Touchstone Exploration Inc. - TSE:TXE

Company Website 

Company Highlights: 

  • Touchstone is a Trinidadian oil and gas company and the country's largest onshore producer.
  • The company has legacy heavy oil assets producing 1,420 boe/d in Q2/22, but its main growth is from its successful exploration on its Ortoire block. Their first natural gas discovery COHO-1 is commissioning and their Cascadura surface facilities are being constructed. These two projects should take volumes to over 10,000 boe/d in 1H/23. In 2023, they will investigate further their oil discovery at Royston. In 2024 production could exceed 20,000 boe/d.
  • The company has quite a lot of exploration still to do on this key block but will likely participate in the onshore bid round Trinidad is holding this year to add more exploration lands.
  • TXP has 213M shares outstanding with a market capitalization of over $250M. Insiders are significant shareholders.
  • Our Bull Market Peak Target for TXP is $6.00 per share.

Please check the SER Ownership page for full disclosures as we are shareholders of Touchstone Exploration.
 

Paul Baay
Paul Baay
President and Chief Executive Officer
Mr. Baay has over 30 years of experience leading energy companies and is currently the President and Chief Executive Officer of Touchstone Exploration Inc. Prior to founding Touchstone in July 2010, Mr. Baay was Managing Director of Abacus Energy, part of Abacus Private Equity from 2007 through 2010 and was a Senior Officer of True Energy Inc. from 2000 through 2007. From 2005 to 2012 he was the Chair of the Board of Directors of Vero Energy Inc. From 1998 to 2000 he was the Chair of the Board of Directors of Request Seismic Surveys Ltd. and served as President, Chief Executive Officer, and Director of Remington Energy Ltd. from 1991 to 1999.

Mr. Baay is a Director of the Board of Directors of Southern Energy, Octavia Energy Corporation, Vice Chair of the Board of Directors of the Alberta Foundation for the Arts and is a member of the Board of Trustees of the National Art Gallery of Canada. He is a member of the Institute of Corporate Directors and is a graduate of the University of Western Ontario, with a BA in administrative and commercial studies.