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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).


TSX:TXP - Post by User

Touchstone Exploration Inc
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Comment by matt2018on Feb 20, 2020 6:43am
80 Views
Post# 30711670

RE:RE:What’s in it for Shore?

RE:RE:What’s in it for Shore?chreca1..... agree with your comments on accelerating the business plan.
I also realize many new shareholders are exited to be here with the latest news.
But as long time shareholsers, we can not loose sight of the dilution that has taken place the last few years that has netted very little cash (and not much production to show for it).
Share count was 83.1M in Jan/2017.  After this latest PP, we will sit at 183.2M shares
in the four PP since 2017, they have add 100M new shares to the count, for net proceeds of appr $25M cdn.(includes latest PP, appr $15.4M cdn).
Plus borrowed another $20M cdn in term.
In my opinion..... it's time for this mangement team to show they can control costs and get it done or sell the company to larger player who has access to much cheaper capital.




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