Touchstone Exploration (LON:TXP) Shares Down 15.6% – Here’s Why

Shares of Touchstone Exploration Inc. (LON:TXP) fell 15.6% on Tuesday . The stock traded as low as GBX 8.50 and last traded at GBX 9.28. 4,028,434 shares changed hands during mid-day trading, an increase of 183% from the average session volume of 1,422,778 shares. The stock had previously closed at GBX 11.

Touchstone Exploration Stock Performance

The stock has a market cap of £28.51 million, a P/E ratio of -8.78 and a beta of 0.12. The business has a 50 day simple moving average of GBX 9.65 and a 200-day simple moving average of GBX 9.80.

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.