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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

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

Comment by Margin321on Jun 03, 2021 11:58am
90 Views
Post# 33319154

RE:RE:Delays are a problem

RE:RE:Delays are a problem I actually agree with you and I am continuing to BUY and build my position. I am just trying to understand and explain why the share price is languishing and not flourishing. They have confirmed the geological model, have two discoveries (three wells) all ready to hook up to pipe, they have a clear path to 200 mmcf/day with a couple of low risk development wells at Cascadura, they have near certainty of being able to self fund development wells at Cascadura and the next exciting phase of exploration. Plus Royston is already funded as the final well of the first exploration phase. The story is just compelling and remains intact. But they do need revenues from sales. That piece is necessary for the story to play out beyond the Royston results. It is hard but if cannot be impossible. They cannot do development drilling at Cascadura or at Royston (if a discovery) without that cash. Many a small company has gone off the rails for inability to execute in timely manner. That is why shares are languishing, in my opinion. The fact that it is somewhat explainable is what keeps the risk to reward ratio favorable (more reward please). In fact the chance of reward is much higher now than when I started building my position by adding 10 fold to the shares I got in 2013 from the petrobank purchase and reorganization. (shares were higher in 2013 than they are now by the way though they dipped quickly and hugely and languished for years until exciting developments on the Ortoire block.) 
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