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 |