Touchstone Exploration Inc 148.8% potential upside indicated by Canaccord Genuity

Touchstone Exploration Inc with ticker (LON:TXP) now has a potential upside of 148.8% 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 42 GBX at opening today (29/12/2023) indicates a potential upside of 148.8%. Trading has ranged between 41 (52 week low) and 95 (52 week high) with an average of 426,212 shares exchanging hands daily. The market capitalisation at the time of writing is £173,475,020.

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.