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 > London TXP shorting position update.......

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Comment by Davidblackgreenon Aug 09, 2021 8:10am

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Post# 33670791

RE:RE:RE:RE:RE:RE:London TXP shorting position update.......

The explanation may well be they have shorted London which trades at 3c to 5c premium to Toronto and go long Canada by collecting on the bid with cheap offers.

It's a nice zero risk play on TXP if you are able to arbitrage the stock. 5% of 300m shares at say 3c gives a risk free $450,000 profit so it's not just a cup of coffee play.

It works nicely as disclosure in Canada is 10% but only 3% in London on long positions.

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