Touchstone Exploration Inc with ticker (LON:TXP) now has a potential upside of 141.7% according to Canaccord Genuity.
Canaccord Genuity set a target price of 105 GBX for the company, which when compared to the Touchstone Exploration Inc share price of 43 GBX at opening today (12/01/2024) indicates a potential upside of 141.7%. Trading has ranged between 40 (52 week low) and 95 (52 week high) with an average of 324,913 shares exchanging hands daily. The market capitalisation at the time of writing is £170,834,750.
Touchstone Exploration Inc. is a Canada-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. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. Its main exploration focus is the Ortoire exploration block. The Ortoire exploration block covers about 44,731 gross acres on the east side of Trinidad. Its other exploration prospects include Royston, Coho, Cascadura, and Chinook. The Royston location is targeting a deep gas prospect with an estimated target depth of about 11,500 feet.
Touchstone Exploration Inc 141.7% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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Latest Company News
Touchstone Exploration has closed its previously announced integrated fundraise and confirmed details for its 2026 Annual and Special Meeting.
Touchstone Exploration has completed its WRAP Retail Offer and wider fundraise, raising aggregate gross proceeds of US$10.9 million before expenses. The financing includes equity and unsecured non-convertible debt securities subscribed for by Purebond Limited.
Touchstone Exploration has raised initial gross proceeds of US$10.9 million, with its largest shareholder Purebond subscribing for approximately US$10.3 million. The WRAP Offer remains open, with First Admission expected around June 10, 2026.
Touchstone Exploration has brought two Trinidad oil wells into production while advancing gas infrastructure work aimed at improving cash flow, pricing and operational reliability.
Touchstone Exploration reported new oil production from two WD-8 wells, expected gas price benefits during Atlantic LNG maintenance, continued Cascadura compressor installation, and planned optimization work at CR-3.
Touchstone Exploration’s latest Cavendish note highlights stronger pricing, operational catalysts and potential gas contract upside across its Trinidad asset base.
