Touchstone Exploration Inc. announced that, further to the announcement on March 4, 2024, Touchstone Exploration (Trinidad) Ltd., wholly owned Trinidadian subsidiary, has entered into the third amended and restated loan agreement with Trinidad based lender. The Amended Loan Agreement provides for an additional $10 million five-year non-revolving term loan facility and an increase to existing revolving loan facility borrowing capacity from $7 million to $10 million under the terms previously announced. As a result, Touchstone's credit facilities currently consist of unchanged seven-year term loan facility, the new five-year $10 million non-revolving term loan facility, and the increased $10 million revolving loan facility.

The existing seven-year non-revolving term loan facility has a current principal balance of $19.5 million, with thirteen equal and consecutive quarterly principal payments of $1.5 million outstanding through to the June 15, 2027 maturity date. Company have $7 million drawn on revolving loan facility, resulting in an aggregate $26.5 million in bank debt principal currently outstanding. company intend to fully draw the new $10 million non-revolving term loan facility to finance 2024 capital program as previously set out in December 19, 2023 announcement and expect to use the additional revolving loan facility credit capacity for general working capital purposes on an as needed basis.