Touchstone Exploration Inc with ticker (LON:TXP) now has a potential upside of 168.7% according to Canaccord Genuity.
Canaccord Genuity set a target price of 180 GBX for the company, which when compared to the Touchstone Exploration Inc share price of 67 GBX at opening today (11/04/2023) indicates a potential upside of 168.7%. Trading has ranged between 51 (52 week low) and 114 (52 week high) with an average of 291,366 shares exchanging hands daily. The market capitalisation at the time of writing is £257,274,275.
Touchstone Exploration Inc. is a Canada-based oil and natural gas exploration company. The Company is engaged in the business of oil and natural gas exploration, development, acquisition and production. It is active in the Republic of Trinidad and Tobago (Trinidad). It has interests in several small undeveloped exploration properties and three larger exploration blocks. Its exploration projects include Coho, Cascadura, Chinook and Royston, and natural gas in Trinidad and Tobago. The Coho-1 is drilled to a total depth of over 8,560 feet and across 64 feet of prospective natural gas pay in the Herrera Gr7b formation between 5,486 and 5,782 feet. The Cascadura-1 sidetracked (ST1) is drilled to a total depth of over 6,350 feet. The Chinook-1 is drilled to a total depth of over 10,039 feet to test a separate structural formation 1.5 kilometers (kms) south from the Cascadura gas discovery. The Royston is targeting a deep gas prospect with an estimated target depth of over 11,500 feet.
Touchstone Exploration Inc 168.7% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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Touchstone Exploration Inc (LON:TXP) reports impressive 2024 financial results, highlighting record production and strategic growth, fueled by Cascadura's success.
Touchstone’s management has highlighted key growth catalysts. These include potential new wells in Rio Claro, believed to be an eastward extension of Cascadura, and the anticipated completion of its $23 million acquisition of Shell Trinidad Central Block Ltd (STCBL) in Q2 FY25.
Touchstone Exploration Inc (LON:TXP) unveils its 2024 year-end reserves, showcasing substantial asset potential and growth in Trinidad's energy sector.
Touchstone Exploration’s acquisition of Shell Trinidad Central Block boosts its strategic growth, enhancing its position as a top onshore gas producer in Trinidad.
Touchstone Exploration expands its portfolio with a $23M acquisition of Shell’s Central Block licence, boosting gas assets and market opportunities.
