One-Page Deal Sheet
Touchstone Disposes of Alberta Property for THAI Project
Not Disclosed Touchstone Exploration Inc.
Announced Date
July 22,2015
Close Date
July 22,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Proved Reserves
Transaction Details: Subscribe to see
Touchstone Exploration Inc. has announced that it has disposed of its interest in the Dawson area of Alberta for cash consideration of $2,150,000.
The property was a non-producing legacy asset that was originally acquired for a potential THAI® project. In October 2014 Touchstone terminated a Dawson area cyclical steam pilot program based on uneconomic operating results. With the conclusion of the steam pilot and no intent to pursue THAI® projects in the future, the Company had no immediate development plans for the property. The property was assigned proved reserves of 463,000 barrels (net)…
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