Touchstone Exploration Inc with ticker (LON:TXP) now has a potential upside of 94.3% according to Canaccord Genuity.
Canaccord Genuity set a target price of 100 GBX for the company, which when compared to the Touchstone Exploration Inc share price of 51 GBX at opening today (14/03/2024) indicates a potential upside of 94.3%. Trading has ranged between 40 (52 week low) and 95 (52 week high) with an average of 342,733 shares exchanging hands daily. The market capitalisation at the time of writing is £206,198,958.
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 94.3% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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Touchstone Exploration operates natural gas and crude oil assets in Trinidad, with established production, development projects and 137,312 net acres of exploration acreage.
Touchstone Exploration produces oil and natural gas in Trinidad and is focused on growing production through existing infrastructure, development drilling and exploration.
Touchstone is progressing a two-well WD-4 drilling campaign while Cascadura gas production increased to 12.6 million cubic feet per day in August following the start-up of its booster compressor.
Touchstone Exploration is advancing drilling, well work and production optimisation across Trinidad, with several key operational results expected during the rest of 2026.
Touchstone Exploration is advancing WD-4 drilling, Cascadura optimisation and Central block work as several near-term operational milestones approach.
Touchstone Exploration is entering a fresh operational phase, with two WD-4 wells targeting up to 200 barrels per day of combined production and further optimisation work under way at Cascadura.
