Proactiveinvestors Australia Touchstone Exploration Inc https://www.proactiveinvestors.com.au Proactiveinvestors Australia Touchstone Exploration Inc RSS feed en Wed, 19 Jun 2019 07:43:41 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - APPROVAL OF RESOLUTIONS AT AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190613070011_14109025/ Thu, 13 Jun 2019 16:00:11 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190613070011_14109025/ <![CDATA[RNS press release - Holdings in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190612160521_14108725/ Thu, 13 Jun 2019 01:05:21 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190612160521_14108725/ <![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190605070014_14098791/ Wed, 05 Jun 2019 16:00:14 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190605070014_14098791/ <![CDATA[RNS press release - FIRST QUARTER 2019 RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190514072222_14072864/ Tue, 14 May 2019 16:22:22 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190514072222_14072864/ <![CDATA[RNS press release - Online Investor Presentation and Q&A session ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190513070008_14070725/ Mon, 13 May 2019 16:00:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190513070008_14070725/ <![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190503155929_14063116/ Sat, 04 May 2019 00:59:29 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190503155929_14063116/ <![CDATA[RNS press release - GRANT OF SHARE OPTIONS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190408070007_14031666/ Mon, 08 Apr 2019 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190408070007_14031666/ <![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190402174748_14026231/ Wed, 03 Apr 2019 03:47:48 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190402174748_14026231/ <![CDATA[RNS press release - TERM CREDIT FACILITY EXTENSION ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190402170143_14026166/ Wed, 03 Apr 2019 03:01:43 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190402170143_14026166/ <![CDATA[RNS press release - YEAR-END 2018 RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190327070003_14016884/ Wed, 27 Mar 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190327070003_14016884/ <![CDATA[RNS press release - Standard form for notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190325161616_14014858/ Tue, 26 Mar 2019 03:16:16 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190325161616_14014858/ <![CDATA[RNS press release - Online Investor Presentation and Q&A session ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190325070013_14013455/ Mon, 25 Mar 2019 18:00:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190325070013_14013455/ <![CDATA[RNS press release - OPERATIONAL UPDATE AND NOTICE OF RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190314070014_14001539/ Thu, 14 Mar 2019 18:00:14 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190314070014_14001539/ <![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190307070026_13993183/ Thu, 07 Mar 2019 18:00:26 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190307070026_13993183/ <![CDATA[RNS press release - 2018 YEAR-END RESERVES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190307070023_13993158/ Thu, 07 Mar 2019 18:00:23 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190307070023_13993158/ <![CDATA[RNS press release - £3.8m (C$6.5m) PRIVATE PLACEMENT ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190219070005_13973504/ Tue, 19 Feb 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190219070005_13973504/ <![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190208070002_13962592/ Fri, 08 Feb 2019 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190208070002_13962592/ <![CDATA[RNS press release - ORTOIRE INDEPENDENT PROSPECT EVALUATION ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190117070005_13937364/ Thu, 17 Jan 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190117070005_13937364/ <![CDATA[RNS press release - OPERATIONAL UPDATE ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190115070005_13934349/ Tue, 15 Jan 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190115070005_13934349/ <![CDATA[RNS press release - Online Investors Presentation and Q&A ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190111070004_13931247/ Fri, 11 Jan 2019 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190111070004_13931247/ <![CDATA[RNS press release - Employee Share Purchase Plan & PDMR Purchases ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190109162107_13929401/ Thu, 10 Jan 2019 03:21:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20190109162107_13929401/ <![CDATA[RNS press release - Share Purchase Plan ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181207173104_13896549/ Sat, 08 Dec 2018 04:31:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181207173104_13896549/ <![CDATA[RNS press release - Director Purchase ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181119070006_13871036/ Mon, 19 Nov 2018 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181119070006_13871036/ <![CDATA[RNS press release - THIRD QUARTER 2018 RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181114070003_13865857/ Wed, 14 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181114070003_13865857/ <![CDATA[Media files - Touchstone declare 'solid quarter production' in Q3 results. ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11200/touchstone-declare-solid-quarter-production-in-q3-results-11200.html Wed, 14 Nov 2018 16:07:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11200/touchstone-declare-solid-quarter-production-in-q3-results-11200.html <![CDATA[RNS press release - Employee Share Purchase Plan & PDMR Purchases ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181107070005_13857601/ Wed, 07 Nov 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181107070005_13857601/ <![CDATA[RNS press release - Online Investor Presentation and Q&A session ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181029070008_13845122/ Mon, 29 Oct 2018 18:00:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181029070008_13845122/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181019164434_13836293/ Sat, 20 Oct 2018 02:44:34 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181019164434_13836293/ <![CDATA[RNS press release - OPERATIONAL UPDATE ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181011070007_13824310/ Thu, 11 Oct 2018 17:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181011070007_13824310/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181010070005_13822573/ Wed, 10 Oct 2018 17:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181010070005_13822573/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181003150003_13815379/ Thu, 04 Oct 2018 00:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20181003150003_13815379/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180906174221_13782091/ Fri, 07 Sep 2018 02:42:21 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180906174221_13782091/ <![CDATA[RNS press release - Statement re Petrotrin Restructuring ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180829070006_13770580/ Wed, 29 Aug 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180829070006_13770580/ <![CDATA[RNS press release - Interim Results & Increased 2018 Capital Program ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180814070009_13753892/ Tue, 14 Aug 2018 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180814070009_13753892/ <![CDATA[RNS press release - OPERATIONAL & DRILLING UPDATE & NOTICE OF RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180809070012_13749003/ Thu, 09 Aug 2018 16:00:12 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180809070012_13749003/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180808070005_13747369/ Wed, 08 Aug 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180808070005_13747369/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180803070923_13742479/ Fri, 03 Aug 2018 16:09:23 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180803070923_13742479/ <![CDATA[News - Shore Capital continues to see “considerable running room” for Touchstone Exploration shares despite circa 40% jump this year ]]> https://www.proactiveinvestors.com.au/companies/news/201347/shore-capital-continues-to-see-considerable-running-room-for-touchstone-exploration-shares-despite-circa-40-jump-this-year-201347.html ‘House broker’ Shore Capital continues to see “considerable running room” for Touchstone Exploration Inc. (LON:TXP) (TSX:TXP) shares despite a circa 40% price rise in the year-to-date.

The City broker’s bullish view comes after its analysts upgraded their sum-of-the-parts valuation for the Trinidad-focused oil producer by circa 20% to 35p, up from 29p previously, having raised their earnings and risked net asset value (NAV) estimates.

WATCH: Touchstone Exploration's drilling programme continuing to provide significant growth

Touchstone shares were trading at 17.9p on Monday afternoon, up over 5% on last Friday’s close.

In a note to clients, the ShoreCap analysts said: “The ongoing drilling programme has translated into robust production growth and, with daily production having surpassed 1,800bopd (barrels of oil per day) prior to the end of H1, we are confident that 2,000bopd will be exceeded before the year is out.”

The analysts said that, while their model comprises various moving parts, in simple terms, they have maintained their full-year 2018 average daily production forecast at 1,800 bopd, but an upgraded oil price deck helps drive an earnings per share (EPS) upgrade to C$0.03, up from C$0.02.

They added that their newly introduced forecasts for full-year 2019 indicate EPS of C$0.05 next year, which assumes production at 2,200 bopd, which the analysts believe is a conservative estimate given Touchstone’s ongoing programme of drilling and workovers.

“Longer term, we believe that (up to) 5,000 bopd remains eminently achievable,” they added.

The analysts said that despite foreign exchange movements and placing-related dilution, their risked NAV estimate for Touchstone has been upgraded to 35p a share, reflecting increasing visibility on drilling at the high impact Ortoire block in Trinidad.

They added; “We see strong scope for further upgrades to this figure as reserve additions come through and plans for drilling at Ortoire progress.”

WATCH: Touchstone Exploration ' comfortably ahead of production expectations'

Despite its small-cap status, the ShoreCap analysts said, Touchstone is one of the most active independents operating onshore Trinidad, enjoying a “Top Four” position - with realistic ambitions to become the leading player behind state oil company Petrotrin.

Since its dual listing on AIM last year, they added, they have highlighted the Calgary, Canada-based firm as one of the most compelling situations on their E&P coverage list.

The analysts noted that their recent site visit to Trinidad coincided with the company’s AGM there last month and “provided us with even greater confidence in the business, which has successfully become a material producer with a first-rate operating capability and high levels of local content.”

They said “With 1,800bopd having been reached nicely ahead of “halftime” this year, we believe that 2,000 bopd is very likely to be exceeded prior to year-end and maintain a high level of confidence in our FY2018F average daily production forecast of 1,800 bopd.”

The analysts concluded: “We see strong scope for further Risked NAV upgrades as a result of 3P reserve additions and increasing visibility on drilling plans for the high impact Ortoire block, where we anticipate a ramp-up in exploration activities in FY2019.” 

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Mon, 23 Jul 2018 14:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201347/shore-capital-continues-to-see-considerable-running-room-for-touchstone-exploration-shares-despite-circa-40-jump-this-year-201347.html
<![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180710070009_13711348/ Tue, 10 Jul 2018 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180710070009_13711348/ <![CDATA[Media files - Touchstone Exploration's drilling programme continuing to provide significant growth ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9633/touchstone-exploration-s-drilling-programme-continuing-to-provide-significant-growth-9633.html Wed, 20 Jun 2018 16:16:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9633/touchstone-exploration-s-drilling-programme-continuing-to-provide-significant-growth-9633.html <![CDATA[RNS press release - TERM CREDIT FACILITY EXTENSION ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180618070005_13682649/ Mon, 18 Jun 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180618070005_13682649/ <![CDATA[RNS press release - GRANT OF SHARE OPTIONS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180615070005_13680786/ Fri, 15 Jun 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180615070005_13680786/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180614070004_13679015/ Thu, 14 Jun 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180614070004_13679015/ <![CDATA[RNS press release - AGM and Company Update ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180612070007_13675415/ Tue, 12 Jun 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180612070007_13675415/ <![CDATA[News - Touchstone Exploration confirms continued production growth ]]> https://www.proactiveinvestors.com.au/companies/news/198664/touchstone-exploration-confirms-continued-production-growth-198664.html Trinidad-based oil firm Touchstone Exploration Inc (LON:TXP) told investors that it produced 1,728 barrels of oil per day in the month of May.

Presently, it said the current production rate is estimated at around 1,821 bopd.

WATCH: Touchstone Exploration ' comfortably ahead of production expectations'

The company highlighted that additional crude volumes are now being realised from three of five new wells drilled this year - the other two new wells are expected to come online within the next 30 days.

"The drilling campaign continues to provide significant organic growth for the company,” said Paul Baay, Touchstone chief executive.

“With current field estimated production of 1,821 bbls/d Touchstone has grown production by 42% compared to the first quarter of 2017. 

“With two wells coming on production in the next month and five more wells planned for 2018 the company is well positioned to exceed our 2,000 bbls/day goal for this year."

Today’s statement comes ahead of the company’s annual general meeting, which is taking place at the Hyatt Regency Trinidad at 10:00am Atlantic standard time, but, will be broadcast online.

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Tue, 12 Jun 2018 07:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198664/touchstone-exploration-confirms-continued-production-growth-198664.html
<![CDATA[RNS press release - EMPLOYEE SHARE PURCHASE PLAN & DIRECTOR PURCHASES ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180607070009_13670209/ Thu, 07 Jun 2018 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180607070009_13670209/ <![CDATA[RNS press release - London Investor Presentation Evenings ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180530070010_13658972/ Wed, 30 May 2018 16:00:10 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180530070010_13658972/ <![CDATA[RNS press release - Director/PDMR Shareholding - Replacement ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180523180401_13652965/ Thu, 24 May 2018 03:04:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180523180401_13652965/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180523070011_13651324/ Wed, 23 May 2018 16:00:11 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180523070011_13651324/ <![CDATA[RNS press release - FIRST QUARTER 2018 RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180515070006_13640751/ Tue, 15 May 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/6220/LSE20180515070006_13640751/