Touchstone Exploration (LON:TXP) Shares Down 24.3% – Here’s Why

Touchstone Exploration Inc. (LON:TXP) traded down 24.3% during mid-day trading on Thursday . The stock traded as low as GBX 6.50 and last traded at GBX 7. 1,565,235 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 1,142,337 shares. The stock had previously closed at GBX 9.25.

Touchstone Exploration Price Performance

The firm has a 50 day moving average price of GBX 9.65 and a 200-day moving average price of GBX 9.06. The firm has a market capitalization of £23.54 million, a price-to-earnings ratio of 1.81 and a beta of 0.00.

About Touchstone Exploration

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.