Touchstone Exploration Inc with ticker (LON:TXP) now has a potential upside of 86.3% according to Canaccord Genuity.
Canaccord Genuity set a target price of 95 GBX for the company, which when compared to the Touchstone Exploration Inc share price of 51 GBX at opening today (22/02/2024) indicates a potential upside of 86.3%. Trading has ranged between 40 (52 week low) and 95 (52 week high) with an average of 389,828 shares exchanging hands daily. The market capitalisation at the time of writing is £206,596,190.
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 86.3% 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.
