Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TOUCHSTONE EXPLORATION INC. We currently have 27 research reports from 1 professional analysts.
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TOUCHSTONE EXPLORATION INC
TOUCHSTONE EXPLORATION INC
Exploration Reports 2Q16 Results
12 Aug 16
Touchstone reported 2Q16 production of 1,325 bbl/d that was in line with expectations, while cash flow of C$3.3 mm was better than our estimate of $C2.1 mm, due to a realized hedging gain and lower G&A costs. During 2Q16, Touchstone only incurred net capital expenditures of C$0.1 mm. The Company continues to focus on capital efficiencies and reductions in operating and G&A costs that will be realized in upcoming quarters.
LIQUIDATES HEDGES AND REPAYS BANK DEBT
08 Jun 16
Market Impact: Positive. Touchstone has liquidated its crude oil hedging contracts and realized gross proceeds of approximately US$2 mm. The funds were used to repay an outstanding US42 mm principal credit facility balance. The Company is no longer carrying debt on its balance sheet.
REPORTS 1Q16 RESULTS AND ENCOURAGING FRACTURE STIMULATION OPERATIONS
13 May 16
Market Impact: Positive. Touchstone reported 1Q16 production of 1,361 bbl/d that was in line with expectations, while cash flow of C$0.9 mm was better than expected. The Company has successfully completed two fracture stimulations that will increase production and improve recovery factors, and has identified at least 12 other well candidates that could undergo fracture stimulation work.
PROVIDES CREDIT FACILITY UPDATE
14 Apr 16
Impact: Neutral to slightly negative. Touchstone's borrowing base on its Trinidad based credit facility has been established at US$8 mm, down US$1 mm from its last review. US$2 mm is currently drawn and US$6 mm currently dedicated to the Company's letter of credit relating to the East Brighton property. Once the sale of the property is finalized, the letters of credit will be cancelled and the borrowing base will be reduced to US$ 3 mm, leaving the Company with US$1 mm left to borrow. As at year-end 2015, Touchstone had a cash balance of US$3.9 mm and as such, the Company will have to seek alternative sources of financing to further develop its Trinidad assets.
Domestic E&P Statistical Package and FD&A Review
12 Apr 16
With this publication we highlight various metrics and statistics forthcoming from yearend reserve books for our Domestic E&P coverage universe (Integrateds, Large Cap, Oilsands, Intermediate, Mid Cap, and Small Cap). Similar charts for YE2014 reserves can be found in our Statistical Package dated April 7, 2015.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
High grade, low cost gold
28 Nov 16
High grades and low costs mean that, in our view, Scotgold’s Cononish project could generate more than £14m a year in EBITDA. In addition to advancing funding discussions based on the compelling bankable feasibility study mine plan (which at £950/oz gold price and 8% WACC gives a project NPV of £43.0m), the company is exploring optimisation opportunities, as well as the potential for a phased approach requiring lower up front capital. We are resuming coverage with a Buy recommendation and target price of 2.2p