Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) said it has noted the possible rival offer for Trinity Exploration from Lease Operators.
In a statement, it added that the new approach is a "conditional, non-binding, indicative proposal" subject to due diligence.
Trinity said that due to the interest of Lease Operators, it wants to reschedule the court hearing sanction Touchstone’s offer until 23 August to evaluate the latest approach.
Lease Operators offer is worth 68.05p per share in cash.