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Touchstone Exploration Inc. (T:TXP)

Business Focus: Oil & Gas Exploration and Production (NEC)

Sector:  Energy Industry:  Oil & Gas Exploration and Production
 
Company Contact
Address: 4100-350 7 Ave SW
CALGARY AB T2P 3N9
Tel: N/A
Website: https://www.touchstoneexploration.com
IR: See website
Key People
Paul Raymond Baay
President, Chief Executive Officer, Director
Scott Budau
Chief Financial Officer
James Shipka
Chief Operating Officer
Cayle Sorge
Vice President - Finance
Alex Sanchez
Vice President - Production and Environment
Brian Hollingshead
Vice President Engineering and Business Development
Thomas E. Valentine
Corporate Secretary
   
Business Overview
Touchstone Exploration Inc. is a Canada-based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. Its main exploration focus is the Ortoire exploration block. The Ortoire exploration block covers about 44,731 gross acres on the east side of Trinidad. Its other exploration prospects include Royston, Coho, Cascadura, and Chinook. The Royston location is targeting a deep gas prospect with an estimated target depth of about 11,500 feet.
Financial Overview
For the fiscal year ended 31 December 2023, Touchstone Exploration Inc revenues increased 27% to $36M. Net loss increased from $3.2M to $20.6M. Revenues reflect Oil Equivalent Production (Units/day) - increase from 2K to 4K barrels per day, Petroleum and natural gas sales increase of 12% to $48.1M, Royalties increase of 17% to -$12.2M. Higher net loss reflects Exploration Costs increase of 80% to $17.6M.
Employees: 86 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $238.60M as of Dec 31, 2023
Annual revenue (TTM): $48.83M as of Dec 31, 2023
EBITDA (TTM): $21.90M as of Dec 31, 2023
Net annual income (TTM): -$27.95M as of Dec 31, 2023
Free cash flow (TTM): -$8.42M as of Dec 31, 2023
Net Debt Last Fiscal Year: $32.72M as of Dec 31, 2023
Shares outstanding: 234,212,726 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization