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Touchstone executives buy shares under employee plan

Published 12/04/2024, 02:04 AM

CALGARY - Touchstone Exploration (OTC:PBEGF) Inc. (TSX, LSE: TXP), a Calgary-based oil and gas company, reported that four of its top executives have purchased common shares as part of its Employee Share Purchase Plan. The transactions took place on the Toronto Stock Exchange on December 3, 2024.

The executives participating in the share purchase include President and CEO Paul R. Baay, CFO Scott Budau, EVP of Engineering and Business Development Brian Hollingshead, and EVP of Asset Development and HSE James Shipka. Each executive acquired shares at a price of C$0.54. Specifically, Baay purchased 11,574 shares, Budau bought 7,407 shares, Hollingshead acquired 6,019 shares, and Shipka also purchased 7,407 shares.

Touchstone Exploration is engaged in the acquisition of petroleum and natural gas rights, as well as the exploration, development, production, and sale of these resources, primarily onshore in the Republic of Trinidad and Tobago. The company's common shares are publicly traded on both the Toronto Stock Exchange and the AIM market of the London Stock Exchange (LON:LSEG).

The share purchases by the executives are part of the company's efforts to align the interests of its employees with those of the shareholders. The Employee Share Purchase Plan is designed to facilitate ownership of the company's stock by its employees, including those in managerial positions.

This information is based on a press release statement from Touchstone Exploration Inc. and is intended to provide shareholders and the public with transparent insights into the company's executive transactions. The company has not provided further details on the implications of these purchases for its financial status or market performance. Touchstone Exploration Inc. continues to focus on its operations and growth initiatives in Trinidad and Tobago.

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