Touchstone Resources USA, Inc. (OTCBB:TSNU)
("Touchstone" or the "Company") is pleased to announce that on May 19,
2006, it entered into an agreement to lease approximately 15,000
square feet of office space in the Three Allen Center building located
in downtown Houston, Texas. Wilson Wasaff, Inc. acted as tenant's
broker in the transaction.
The lease agreement is for approximately 10 years and provides an option for Touchstone to lease additional office space as the business expands.
The office space design and build-out phase will start immediately, with a projected move in date of August 1, 2006.
Roger Abel, Chairman and Chief Executive Officer of Touchstone, said, "The key driver behind the need for more space is our continued acquisition of additional acreage and properties. As we add to our portfolio of assets, we will require additional staff to manage these projects. We are please to have secured office space to allow the Company to grow without constraints."
ABOUT TOUCHSTONE RESOURCES
Headquartered in Houston, Texas, Touchstone Resources USA, Inc. is an oil and gas exploration and production company. Primarily a resource player, its key assets consist of shale acreage in Woodruff County, Arkansas and McIntosh County, Oklahoma, and it also owns a variety of producing and non-producing oil and gas assets in Texas, Louisiana, Mississippi, Alabama, and New Zealand. Since August 2005, Touchstone has made significant changes in its management, Board of Directors and the nature of oil and gas assets it acquires to better equip itself for future company growth.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including, in particular, statements about Touchstone's plans and intentions. These have been based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.
The lease agreement is for approximately 10 years and provides an option for Touchstone to lease additional office space as the business expands.
The office space design and build-out phase will start immediately, with a projected move in date of August 1, 2006.
Roger Abel, Chairman and Chief Executive Officer of Touchstone, said, "The key driver behind the need for more space is our continued acquisition of additional acreage and properties. As we add to our portfolio of assets, we will require additional staff to manage these projects. We are please to have secured office space to allow the Company to grow without constraints."
ABOUT TOUCHSTONE RESOURCES
Headquartered in Houston, Texas, Touchstone Resources USA, Inc. is an oil and gas exploration and production company. Primarily a resource player, its key assets consist of shale acreage in Woodruff County, Arkansas and McIntosh County, Oklahoma, and it also owns a variety of producing and non-producing oil and gas assets in Texas, Louisiana, Mississippi, Alabama, and New Zealand. Since August 2005, Touchstone has made significant changes in its management, Board of Directors and the nature of oil and gas assets it acquires to better equip itself for future company growth.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including, in particular, statements about Touchstone's plans and intentions. These have been based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.
© 2006 Business Wire
