Touchstone Exploration Completes Acquisition of Shell Trinidad Central Block

Touchstone Exploration ( (TSE:TXP) ) has issued an announcement.

Touchstone Exploration Inc. has completed the acquisition of Shell Trinidad Central Block Limited for approximately $28.4 million. This acquisition gives Touchstone a 65% interest in the Central block exploration and production license in Trinidad, which includes four natural gas wells and a gas processing facility. The transaction is expected to enhance Touchstone’s production base, provide access to the liquefied natural gas market, and strengthen its operational capacity in Trinidad, offering long-term strategic value.

The most recent analyst rating on (TSE:TXP) stock is a Buy with a C$60.00 price target. To see the full list of analyst forecasts on Touchstone Exploration stock, see the TSE:TXP Stock Forecast page.

Spark’s Take on TSE:TXP Stock

According to Spark, TipRanks’ AI Analyst, TSE:TXP is a Neutral.

Touchstone Exploration’s overall stock score reflects strengths in revenue growth and operational efficiency, but significant challenges persist with ongoing net losses and negative cash flow. The technical analysis suggests a bearish trend, and the negative P/E ratio indicates unprofitability. The absence of earnings call data and corporate events does not provide additional insights.

To see Spark’s full report on TSE:TXP stock, click here.

More about Touchstone Exploration

Touchstone Exploration Inc. is a Calgary, Alberta-based company involved in acquiring interests in petroleum and natural gas rights, as well as the exploration, development, production, and sale of petroleum and natural gas. The company is active in onshore properties in the Republic of Trinidad and Tobago, with its shares traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol ‘TXP’.

Average Trading Volume: 92,032

Technical Sentiment Signal: Sell

Current Market Cap: C$85.13M

See more data about TXP stock on TipRanks’ Stock Analysis page.