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    TXP   CA89156L1085

TOUCHSTONE EXPLORATION INC.

(TXP)
  Report
Delayed Toronto Stock Exchange  -  03:59 2022-09-29 pm EDT
1.150 CAD   -0.86%
09/19Touchstone Exploration Inc.(TSX:TXP) dropped from S&P Global BMI Index
CI
09/12Touchstone Exploration Inc. - EXERCISE OF SHARE OPTIONS
AQ
09/05Employee share purchase plan and director / pdmr purchases
AQ
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Touchstone Exploration Receives Trinidad Certificate of Environmental Clearance

08/17/2022 | 02:04am EDT

By Anthony O. Goriainoff


Touchstone Exploration Inc. shares rose Wednesday after the company said it received a certificate of environmental clearance, or CEC, from the government of Trinidad and Tobago within the Cascadura area of the Ortoire block, where it has an 80% operating working interest in the license.

Shares at 0733 GMT were up 14.50 pence, or 15%, at 112.50 pence.

The London-listed Canadian company--which acquires interests in petroleum and natural-gas rights--said that the CEC approved the construction of a multiwell surface production facility, and that it includes the drilling of eight wells as well as the installation of the associated pipelines and infrastructure.

The company said this positive outcome allowed it to establish a clear and measurable five-year development plan.

"This is a major step forward for the Cascadura project as we progress from the exploration phase to the development and production phase.... We are working with our local contractors, and construction is underway at local fabrication shops for various aspects of the facility with all major facility components already delivered to Trinidad," Chief Executive Paul Baay said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

08-17-22 0404ET

Stocks mentioned in the article
ChangeLast1st jan.
S&P GSCI NATURAL GAS INDEX 0.10% 322.0808 Real-time Quote.87.08%
TOUCHSTONE EXPLORATION INC. -0.86% 1.15 Delayed Quote.-28.57%
WTI -0.93% 80.744 Delayed Quote.8.35%
All news about TOUCHSTONE EXPLORATION INC.
09/19Touchstone Exploration Inc.(TSX:TXP) dropped from S&P Gl..
CI
09/12Touchstone Exploration Inc. - EXERCISE OF SHARE OPTIONS
AQ
09/05Employee share purchase plan and director / pdmr purchases
AQ
08/31Touchstone Exploration Inc. - GRANT OF SHARE OPTIONS
AQ
08/29Touchstone - director, pdmr shareholding
AQ
08/23Touchstone - exercise of share options
AQ
08/17Touchstone Exploration Gains 9% in Canada Trading as Secures Environmental Clearance Fo..
MT
08/17Touchstone Exploration Up 10% in UK Trading as Secures Environmental Clearance For Casc..
MT
08/17Touchstone Exploration Brief: Announced Earliier Wednesday ..
MT
08/17Approval of cascadura certificate of environmental clearance
AQ
More news
Financials
Sales 2022 54,2 M 39,6 M 39,6 M
Net income 2022 -2,45 M -1,79 M -1,79 M
Net Debt 2022 37,1 M 27,1 M 27,1 M
P/E ratio 2022 -121x
Yield 2022 -
Capitalization 245 M 179 M 179 M
EV / Sales 2022 5,20x
EV / Sales 2023 1,62x
Nbr of Employees 95
Free-Float 86,6%
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Technical analysis trends TOUCHSTONE EXPLORATION INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 1,15 CAD
Average target price 3,00 CAD
Spread / Average Target 161%
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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