Touchstone Exploration Inc. Notification of Transaction by Director / PDMR (7164Z)

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RNS Number : 7164Z

Touchstone Exploration Inc.

19 December 2017

19 December 2017

Touchstone Exploration Inc.

("Touchstone" or the "Company")

Notification of Transaction by Director / PDMR

Exercise of Incentive Share Options & Sale of Common Shares

Touchstone Exploration Inc. (TSX / LSE: TXP), an oil and gas exploration and production company active in the Republic of Trinidad and Tobago, announces that on 18 December 2017, Paul R. Baay, President and Chief Executive Officer, exercised incentive share options over 100,000 common shares in the Company at a price of C$0.05 per share (approximately 2.9 pence per share). These incentive share options were granted in accordance with the Company's incentive share option plan. Mr. Baay subsequently sold 100,000 common shares at a price of C$0.20 per share (approximately 11.7 pence per share).

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

 
 1      Details of the person discharging managerial 
         responsibilities / person closely associated 
-----  ------------------------------------------------------------- 
 a)     Name                      Paul R. Baay 
-----  ------------------------  ----------------------------------- 
 2      Reason for the notification 
-----  ------------------------------------------------------------- 
 a)     Position/status           President and Chief Executive 
                                   Officer 
-----  ------------------------  ----------------------------------- 
 b)     Initial notification      Initial notification 
         /Amendment 
-----  ------------------------  ----------------------------------- 
 3      Details of the issuer, emission allowance 
         market participant, auction platform, auctioneer 
         or auction monitor 
-----  ------------------------------------------------------------- 
 a)     Name                      Touchstone Exploration Inc. 
-----  ------------------------  ----------------------------------- 
 b)     LEI                       2138008URBSUC1J24J73 
-----  ------------------------  ----------------------------------- 
 4      Details of the transaction(s): section to 
         be repeated for (i) each type of instrument; 
         (ii) each type of transaction; (iii) each 
         date; and (iv) each place where transactions 
         have been conducted 
-----  ------------------------------------------------------------- 
 a)     Description of 
         the financial              Common Shares of no par value 
         instrument, type 
         of instrument              CA89156L1085 
 
         Identification 
         code 
-----  ------------------------  ----------------------------------- 
 b)     Nature of the             Exercise of 100,000 incentive 
         transaction               share options and sale of 100,000 
                                   common shares 
-----  ------------------------  ----------------------------------- 
                                    Prices       Volumes 
   c)     Prices and volumes        -----------  ------------------ 
                                     2.9p each    100,000 incentive 
                                                   share options 
                                    -----------  ------------------ 
                                     11.7p each   100,000 common 
                                                   shares 
                                    -----------  ------------------ 
-----  ------------------------  ----------------------------------- 
 d)     Aggregated information 
 
         - Aggregated               100,000 incentive share options 
         volume                     exercised 
                                    100,000 common shares sold 
 
         - Price                    Purchase: 2.9p each 
                                    Sale: 11.7p each 
-----  ------------------------  ----------------------------------- 
 e)     Date of the transaction   18 December 2017 
-----  ------------------------  ----------------------------------- 
 f)     Place of the              Toronto Stock Exchange 
         transaction 
-----  ------------------------  ----------------------------------- 
 

For further information, please contact:

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer Tel: [phone]

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Advisor and Joint Broker)

Nominated Adviser: Edward Mansfield / Mark Percy Tel: [phone] Corporate Broking: Jerry Keen

GMP FirstEnergy (Joint Broker)

Jonathan Wright / Hugh Sanderson Tel: [phone]

Camarco (Financial PR)

Nick Hennis / Billy Clegg / Jane Glover Tel: [phone]

About Touchstone

Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights, and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".

Advisories

For reference purposes in this announcement, one British pound has been translated from Canadian dollars at a rate of 1.00 to 1.72.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 19, 2017 02:00 ET (07:00 GMT)