Touchstone Exploration Inc T.TXP

Canaccord raise target price to 200p

[Proselenes]

https://www.sharecast.com/news/broker-recommendations/canaccord-genuity-raises-target-price-on-touchstone-exploration--8623926.html

 

,,,,,,,,,,,Canaccord said following Touchstone's analyst presentation and third-quarter results, it was now possible to add "a little more flesh to the bones" of the well test result.

 

The Canadian bank said its initial view that the oil discovery was "an important step forward" had been confirmed, though it also recognised that there was still "plenty to be done" to fully evaluate the scope of the commercial potential at Royston and the surrounding Ortoire licence.

 

Canaccord, which reiterated its 'speculative buy' rating on the stock, said the tested zone, the first and deepest of three planned, looked the least promising in terms of reservoir rock properties, yet the test also produced light sweet crude despite the equipment used being designed for gas flow.

"We think the information provided so far provides the foundation for thinking that Royston could be both a gas/wet gas (to be confirmed following two tests expected to be completed before YE21) and an oil development. Furthermore, the discovery of oil in the deepest levels of Royston-1 adds support to the possibility of oil in the nearby but deeper Krakken prospect," said Canaccord..................

[satchmo6]

it might hit 3.00 again---if you are so hot-- on it---and need more money--go talk to Angella Calla and mortgage your home --depenfing how many thousands of shares

[Proselenes]

I already own over 700K of TXP shares.  I am still accumulating more but only on a adhoc basis now. So yes, my money is where my mouth is - and I have full confidence that Paul Baay will deliver stunning returns for TXP shareholders over the coming 24 months.

[Margin321]

I like your points and I also buy the story.   I have a little more than a tenth of your shares but an equal amount of conviction. It does not all have to come true to be worth 5 times where TXP is at right now.  Even 10 times. Coho is true and Cascadura is true.  If Royston is as solid as Cascadura and they start a development plan to produce first the liquid rich gas and

[Davidblackgreen]

With the next two tests potentially coming this week and then secondly in four weeks we are about to find out if this is a $10 stock. Not this or next year but as discovery becomes production the value will come, and quickly. Many will not notice this weeks news but this could be the point where TXP joins the big leagues.