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    TXP   CA89156L1085

TOUCHSTONE EXPLORATION INC.

(TXP)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-27 pm EST
1.180 CAD    0.00%
01/16Touchstone Exploration announces "really great" asset swap deal in Trinidad
AQ
01/10Touchstone announces execution of asset exchange agreement
AQ
01/09TRADING UPDATES: Mobile Tornado loses CEO; DeepVerge revenue jumps
AN
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IN BRIEF: Touchstone Exploration raises USD13 million through placing

12/06/2022 | 12:10pm EST

Touchstone Exploration Inc - Calgary, Canada-based upstream oil and gas company - Raises USD13 million through a placing in Canada and the UK of 19.9 million shares at a price of 54.5 pence each.

The Canadian placing raises USD5.8 million through the placement of 8.7 million shares at the placing price. The UK placing raises USD7.5 million through the placing of 11.2 million shares at the placing price.

Shore Capital & Corporate Ltd, Shore Capital Stockbroker Ltd and Canaccord Genuity Ltd acted as joint bookrunners in connection with the UK placing.

"The fundraise allows us to accelerate our exploration and development program on the Ortoire block, which has yielded excellent results to date. With Coho having recently been brought onto production and facility construction at Cascadura underway, we are making substantial progress towards becoming an energy production company of significant scale, with a range of additional exploration prospects. The fundraise allows us to accelerate certain aspects of our exploration and development strategy while we focus resources on bringing Cascadura onto production," says President & Chief Executive Paul Baay.

The Ortoire block is located in Trinidad & Tobago. Coho and Cacadura are wells at the block.

Current stock price: 55.50 pence, closing 12% lower in London on Tuesday

12-month change: down 47%

By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -1.57% 86.05 Delayed Quote.1.71%
CANACCORD GENUITY GROUP INC. 0.79% 11.49 Delayed Quote.36.95%
TOUCHSTONE EXPLORATION INC. 0.00% 1.18 Delayed Quote.28.26%
WTI 0.00% 79.45 Delayed Quote.0.75%
All news about TOUCHSTONE EXPLORATION INC.
01/16Touchstone Exploration announces "really great" asset swap deal in Trinidad
AQ
01/10Touchstone announces execution of asset exchange agreement
AQ
01/09TRADING UPDATES: Mobile Tornado loses CEO; DeepVerge revenue jumps
AN
01/09Touchstone Exploration Up Near 4% As Says To Transfer Certain Assets In Trinidad And To..
MT
01/09Touchstone Exploration Inc. - EMPLOYEE SHARE PURCHASE PLAN AND DIRECTOR / PDMR PURCHASE..
AQ
01/09Touchstone Exploration To Transfer Certain Assets In Trinidad And Tobago
MT
01/09Touchstone Exploration Brief: Up 1.8% In UK Trader After An..
MT
01/09Touchstone Exploration Inc. agreed to acquire Rio Claro, Balata East and Balata East De..
CI
2022Touchstone announces release of 2021 sustainability report
AQ
2022Touchstone announces closing of canadian private placement
AQ
More news
Financials
Sales 2022 47,3 M 35,5 M 35,5 M
Net income 2022 -4,40 M -3,30 M -3,30 M
Net Debt 2022 16,1 M 12,1 M 12,1 M
P/E ratio 2022 -63,0x
Yield 2022 -
Capitalization 275 M 207 M 207 M
EV / Sales 2022 6,15x
EV / Sales 2023 2,40x
Nbr of Employees 95
Free-Float 79,2%
Chart TOUCHSTONE EXPLORATION INC.
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Touchstone Exploration Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends TOUCHSTONE EXPLORATION INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 1,18 CAD
Average target price 2,91 CAD
Spread / Average Target 147%
EPS Revisions
Managers and Directors
Paul Raymond Baay President, Chief Executive Officer & Director
Scott Budau Chief Financial Officer
John David Wright Chairman
James Shipka Chief Operating Officer
Kenneth R. McKinnon Independent Director
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