Production in 4Q15 of 1,411 bbl/d was below expectations of 1,555 bbl/d; however, 4Q15 cash flow of C$1.4 mm beat our estimate of C$1.2 mm. Our production and financial estimates for 2016e and 2017e remain unchanged, post 4Q15 results. Touchstone is currently in the process of executing and evaluating two fracture stimulations. If successful, we would expect additional fracture stimulation work to be carried out in 2016e. This is a near-term catalyst for the stock.
24 Mar 2016
Announces 4Q15 Results; Outlook Unchanged
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Announces 4Q15 Results; Outlook Unchanged
Touchstone Exploration Inc (TXP:LON) | 51.0 0 0.0% | Mkt Cap: 119.4m
- Published:
24 Mar 2016 -
Author:
Darren B. Engels -
Pages:
7
Production in 4Q15 of 1,411 bbl/d was below expectations of 1,555 bbl/d; however, 4Q15 cash flow of C$1.4 mm beat our estimate of C$1.2 mm. Our production and financial estimates for 2016e and 2017e remain unchanged, post 4Q15 results. Touchstone is currently in the process of executing and evaluating two fracture stimulations. If successful, we would expect additional fracture stimulation work to be carried out in 2016e. This is a near-term catalyst for the stock.