Touchstone Exploration has announced that Primera Oil and Gas Limited ('POGL'), its wholly owned Trinidadian subsidiary, has entered into Exploration and Production (Public Petroleum Rights) Licences for the Cipero and Charuma blocks, effective July 1, 2024.
The Cipero and Charuma blocks were awarded to POGL pursuant to the Trinidad and Tobago 2022 Onshore and Nearshore Competitive Bid Round. The Licences were fully executed by representatives from POGL, the Government of Trinidad and Tobago, the Trinidad and Tobago Ministry of Energy and Energy Industries ('MEEI'), and a subsidiary of the National Gas Company of Trinidad and Tobago ('NGC').
POGL has an 80 percent operating working interest under each Licence, with NGC holding the remaining 20 percent working interest. Similar to the Company's Ortoire licence, the Licences initially have a six-year term and may be extended by an additional 19 years for areas that have a MEEI approved commercial discovery.
Click here for full announcement
Source: Touchstone
