Last update: 26-Jul-2014 5:28 am
Saturday, July 26, 2014
Trinidad & Tobago Guardian Online
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Touchstone appoints new country manager
Touchstone Exploration Inc announced yesterday that effective March 5, Michael Loewen will be the new country manager for its wholly-owned Trinidad subsidiary, Territorial Services Ltd. Loewen is a petroleum engineer with more than 25 years’ experience in the oil and gas industry and nine years of experience internationally in Cuba, Argentina and Albania. Prior to taking up the appointment, Touchstone said that “over the last ten years Loewen spent the majority of time working for Sherritt International and Petro Andina Resources in positions varying from managing director to director (of) operations.” The company said: “Loewen has outstanding management and leadership skills, which were an integral part in increasing gross production from approximately 2,000 barrels per day to 28,000 barrels per day on a previous international project.”
Touchstone also announced that Territorial Service’s current country manager, Jim Krissa, has been appointed to the post of chairman. Krissa has been with Territorial for more than ten years and had been a significant influence in stewarding the company’s success. “He has assisted Territorial in its growth from 130 barrels per day to an average of 1,750 barrels per day over the last 3 years,” Touchstone said. The company now employs 130 people in Trinidad and owns 22 blocks, 11 of which are producing. The company was successful in the 2013 onshore bid round for the Ortoire Block. “Krissa will play an active role in Territorial within his new position and will be a valuable part of the continued growth of the company,” the company said.
Touchstone Exploration Inc is 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 internationally. The Toronto-listed company’s sole producing assets in the world are onshore properties located in Trinidad. The company’s common shares are traded on the TSX Venture Exchange (Canada’s junior stock exchange) under the symbol “TAB.” As it acquired the assets of the former member of the CL Financial group, Primera Oil and Gas Ltd, most of Touchstone’s licenses, including the recent Ortoire block, are issued in the latter’s name.