Touchstone Exploration Inc T.TXP

Alternate Symbol(s): PBEGF

Energy Oil & Gas E&P

Touchstone Exploration Inc. is a Canada-based company, which is engaged in the business of petroleum and natural gas exploration, development, acquisition and production. 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. It is focused on onshore oil and natural gas properties located in southern Trinidad. With interests in approximately 145,000 net working interest acres of core exploration and development rights. Its core focus is on exploration and development on the Ortoire block and development production on its five onshore lease operatorship properties (CO-1, WD-4, WD-8, Fyzabad, and Balata East).

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Touchstone Exploration Inc

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Post by stanleyon Sep 06, 2021 7:05am

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Post# 33816284

Canaccord Analyst Charlie Sharp Research - What a Gap?

Lurk & Learns:

Sometimes the wait can be excruciating(sp?) as in the TXP case.

Some "advanced" level explanation(s) over on ADVFN today. Bottomline, appears to be the (apparent) stock price manipulation (capping) is some form of insurance being used by an entity protecting their holding from volatility. Proselenes speculates that this "put" (short) will have to be covered eventually. Thus returning TXP to previous highs; then beyond once NGC connections are realized by the market.

Anyway, feel free (highly recommend) L & L's check out the exchange over on ADVFN. For me the point remains, Coho and the Cascadura Complex connections followed by Royston success will help to close the "gap" being suggested by Cannacord:

Canada Stockwatch Energy Summary for Sept. 3, 2021

2021-09-03 22:05 ET - Market Summary

by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 70 cents to $69.29 on the New York Merc, while Brent for November lost 42 cents to $72.61 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.05 to WTI, down from a discount of $12.00. Natural gas for October added seven cents to $4.71. The TSX energy index lost a fraction to close at 126.22.

<snip>

Slightly closer to home, Paul Baay's Trinidad-focused Touchstone Exploration Inc. (TXP) lost three cents to $1.37 on 237,700 shares.

The dip came in spite of a glowing analyst write-up. "Touchstone is set for a return to high-impact news," proclaimed Canaccord analyst Charlie Sharp in a research note this morning.
He noted that Touchstone spudded its most recent well on its Ortoire block, the Royston well, on Aug. 12 and will likely have results by the end of this month.
This should be "the most significant market catalyst" in the near term. Yet it will not be the only near-term news;
Mr. Sharp also expects Touchstone to finally achieve production at Ortoire -- from a different well, Coho -- "around the turn of the year." (Touchstone was originally aiming to put Coho on production in early 2020.)
Mr. Sharp concluded by hiking his price target on Touchstone to $2.80 from $2.55 and maintaining his "speculative buy" rating. As usual, the disclaimer at the bottom of the note was at least as interesting as the note itself.
The analyst's employer, Canaccord, is not only a provider of investment banking services for Touchstone, but also a "market maker or liquidity provider in [Touchstone's] securities."