Touchstone has agreed to divest its Kerrobert heavy oil property in Saskatchewan. The disposition is accretive to our go-forward cash flow and NAV estimates. We view the disposition positively. The disposition of Kerrobert generates proceeds for a non-core asset, eliminates
operating losses, reduces future development capital by approximately $1.0 mm and future abandonment liabilities by $3.3 mm, and enables Touchstone to focus exclusively on onshore Trinidad. Our target price has increased to ....
20 Jan 2016
Touchstone Exploration Divests the Kerrobert Heavy Oil Property
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Touchstone Exploration Divests the Kerrobert Heavy Oil Property
Touchstone Exploration Inc (TXP:LON) | 42.2 -0.3 (-1.7%) | Mkt Cap: 99.0m
- Published:
20 Jan 2016 -
Author:
Darren B. Engels -
Pages:
6
Touchstone has agreed to divest its Kerrobert heavy oil property in Saskatchewan. The disposition is accretive to our go-forward cash flow and NAV estimates. We view the disposition positively. The disposition of Kerrobert generates proceeds for a non-core asset, eliminates
operating losses, reduces future development capital by approximately $1.0 mm and future abandonment liabilities by $3.3 mm, and enables Touchstone to focus exclusively on onshore Trinidad. Our target price has increased to ....