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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (67317)	9/16/2019 7:49:43 PM
From: Goose94	Read Replies (1) of 202365

Touchstone Exploration (TXP-T) (revisited) top pick from Josef Schachter on BNN.ca Market Call Monday Sept 16th @ 1200ET Touchstone is active in Trinidad and via recompletions and drilling raised oil production in Q2/19 to 1,768 b/d. The exciting upside for Touchstone is its three-well high impact exploration drilling program started this year. The company just announced it found four gas-bearing zones at the COHO-1 well. It will be tested in October and could be on in Q1/20. The second exploration well is an oil target, which should spud in October with news before year-end. The cost of the wells is US$2.5 million each and they have on the balance sheet US$7.3 million for the program plus their 2019 cash flow of over US$10 million. Production could reach 3,000 boe/d in Q2/20 and over 4,000 boe/d by end of 2020. Our one-year target is 50 cents and our bull-market target is $2 per share. We plan to buy more of the stock over time. This is our favourite exploration idea. The stock traded at over $2.50 per share as recently as 2012.

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