2010-11-09-2010-11-03-2011-01-31

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$3.5MM
Description

Acquired a 49% nonoperated WI in Coora Field in Trinidad and Tobago, gaining 2.4 MMBO 2P.

Touchstone Exploration Inc., Vancouver, (Toronto Venture: TAB-U) plans to acquire a 49% non-operated interest in the operatorship agreements relating to Coora Field in Trinidad and Tobago from Cirrus Energy (Trinidad) Ltd., a subsidiary of Cirrus Energy Corp., Calgary, (Toronto Venture: CYR) for US$3.5 million in cash.

Total proved and probable reserves as of Aug. 31, 2009, were 2.4 million gross barrels of oil (1.4 million net).

Cirrus president David Taylor says, "This strategic disposition of non-core assets supports Cirrus' current focus on North Sea opportunities and provides additional financial flexibility to further develop assets within the company's expanding North Sea portfolio."