Sep 13th 2013 - Edison Investment Research today published a report on Touchstone Exploration entitled "Growing Onshore Trinidad". In summary, the report says:
Touchstone is moving forward with a focused recompletion, reactivation and infill drilling programme, which we find relatively low-risk and well-positioned. We are expecting the company to drill 10 vertical wells in this financial year, with our models pointing to a resulting 51% y-o-y increase in oil production to an average of 1.75mb/d, generating sufficient cash flow to cover capex and potentially partially pay down debt. With Touchstone trading well below our core NAV of C$0.64/share, we find substantial value in the story, should drilling costs and production targets be met.
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