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Pin to quick picksTouchstone Exploration Share News (TXP)

Share Price Information for Touchstone Exploration (TXP)

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Share Price: 38.75
Bid: 38.50
Ask: 39.00
Change: 0.30 (0.78%)
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Open: 38.50
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UK TRADING UPDATE SUMMARY: OTAQ And Biome Tech Expect Earnings Growth

Thu, 29th Oct 2020 15:03

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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OTAQ PLC - Lancaster-based marine aquaculture technology - Expects first half revenue for six months ended September 20 of around GBP2.0 million, up from GBP1.8 million a year before, and earnings before interest, tax, depreciation and amortization of GBP390,000, up from GBP320,000. Expects revenue for full year to end of March 31, 2021 to be ahead of prior year by around GBP600,000 to GBP4 million and Ebitda to be ahead by around GBP50,000 to GBP500,000. For financial 2020, revenue was GBP3.4 million and Ebitda was GBP450,000. Full results for six months ended September 30 will be published November 26.

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Biome Technologies PLC - Hampshire-based polymers supplier - Says revenue in third quarter ended September 30 was GBP1.8 million, up from GBP1.3 million a year prior. Revenue for the first nine months was GBP4.3 million, down from GBP4.7 million. By division, Bioplastic revenue in the third quarter was up sharply to GBP1.6 million from GBP700,000 year-on-year, and Stanelco RF Technologies Division revenue fell to GBP0.2 million from GBP0.6 million.

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Draper Esprit PLC - investor in digital technology firms - For first half ended September 30, expects net asset value per share of not less than 595 pence, up from 574p at September 30, 2019 and 555p as at March 31. Expects gross portfolio value of at least GBP695 million, up from GBP683 million a year prior. Realisations since March 31, 2020 amount to GBP106 million.

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Touchstone Exploration Inc - Calgary-based oil and gas firm - Spuds Cascadura Deep-1 well on Tuesday ahead of schedule at the Ortoire onshore exploration block in Trinidad and Tobago. Currently drilling the surface hole to a planned casing depth of 900 feet with the bottom hole location expected to be 1,300 feet to the south-east. Designing a production testing program for Chinook-1 that may commence before the end of 2020. Says it is continuing to negotiate the final details of the natural gas sales agreement with the National Gas Co of Trinidad and Tobago, adding the agreement - which includes all future natural gas sales from the Ortoire block - is expected to be executed before the end of the year.

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MTI Wireless Edge Ltd - antenna manufacturer based in Israel - Says St Petersburg office of MTI Summit secures order from Russian customer for delivery in 2021. Contract is worth around USD1.5 million and is a repeat order for the supply of radio frequency components.

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Elixirr International PLC - London-based consultancy - Acquires digital marketing firm Coast Digital Ltd for GBP3.8 million, comprising initial consideration of GBP2.2 million, the issue of 444,752 shares at 252.5p each and potential earnout payments in shares totalling GBP400,000 contingent on Coast Digital achieving earnings targets in 2021 and 2022. States the acquisition will be immediately earnings-enhancing and will extend its existing digital capabilities so that the Elixxirrcan offer a full-service digital capability to its clients

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Supermarket Income REIT PLC - UK-focused supermarket income trust - Buys a Sainsbury's supermarket and adjoining commercial premises in Heaton, Newcastle upon Tyne from the National Farmers Union for GBP53.1 million, reflecting a combined net initial yield of 4.1%. The site comprises a 68,000 square foot supermarket and also includes three unoccupied commercial units yielding over 9% which are principally leased to Peugeot for a remaining term of six years. Says supermarket has an unexpired lease term of 21 years with five-yearly, upward-only, retail price index-linked rent reviews. The next scheduled rent review is in November 2021 which will see the combined net initial yield from the site increase to a minimum of 4.6%

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TP Group PLC - Reading-based consulting, software and engineering services provider - Says following a strategic review, it will sell its Manchester-based subsidiary TPG Engineering Ltd to investment firm Rcapital for nominal amount of GBP1.00. For 2019, TPG Engineering posted a pretax loss of GBP1.6 million and at June 30 had net assets of GBP1.7 million.

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Filtronic PLC - Leeds-based antenna manufacturer - Finalises programme reschedules with clients, adding that manufacturing output is at planned customer volume requirements. Tells annual general meeting however that reschedule delays means it is trading broadly in line with last year. End markets remain "reasonably robust" but highlights slow order intake in the public safety market. New business acquisition remains a challenge. Currently has cash of GBP1.9 million, down from GBP2.0 million at May 31.

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Octopus Renewables Infrastructure Trust PLC - London-based investor in mainly onshore wind and solar projects - Completes acquisition of Cerisou wind farm - a construction-ready onshore wind project in the Vienne department of France - from RES SAS for EUR56 million, including future construction payments. Says project construction to happen under a full-wrap contract by RES and will complete in the third quarter of 2022. Once operational, the wind farm will have 24 megawatts of total capacity comprising of 8 turbines.

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Marlowe PLC - London-based safety & compliance services firm - Raises GBP30 million through placing of 5.4 million shares at 547p each. Following admission, its share capital will comprise 60.3 million shares. Will use cash to fund part of the consideration for the GBP59 million acquisition of employment services firm Ellis Whittam Holdings Ltd as well as to fund further acquisitions.

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Live Co Group PLC - events firm - Signs new contracts for two sets of Christmas assets with shopping centres in the UK. The first set consists of Elfie Christmas bundle will showcase at the Fort Shopping Centre in Birmingham from November 20 and the second is Santa's Express and Santa's sleigh, which will be at the The Mall Shopping centre in Luton from November 17

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By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Touchstone Exploration Inc - Canadian-based oil and gas exploration company - Says the Cascadura-2 delineation well in Trinidad and Tobago was drilled to a total depth of 8,252 feet, with open hole logs and drilling data indicating a total sand thickness of approximately 900 feet in the targeted Herrera formation. Says that the Cascadura-3ST1 well has been cased, and production testing is scheduled to start in the third quarter of 2024 directly into the Cascadura natural gas facility. Chief Executive Officer Paul Baay said: "We are pleased with the successful results from the two delineation wells at Cascadura, with both wells demonstrating the quality and scale of the structure. In addition, the Cascadura-3ST1 well is the first to cross the C-fault to the east side of the structure, an area where reserves have not been previously assigned. The CO-374 development well is also noteworthy, as it has the highest net pay we have observed to date on our crude oil legacy blocks."

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Touchstone Exploration Inc - Canadian-based oil and gas exploration company - Says the Cascadura-2 delineation well in Trinidad and Tobago was drilled to a total depth of 7,132 feet. The Cascadura-2 well is currently being cased, and production testing is scheduled to commence in the third quarter of 2024 directly into the Cascadura natural gas facility. "The encouraging Cascadura-2 delineation well drilling results represent a great start to 2024. Cascadura-2 has proved up the concept of highly productive sands extending significantly to the east of our initial Cascadura discovery. We estimate that the well was drilled for under USD6 million on a gross basis, which further enhances the economics of this prolific hydrocarbon fairway. With this new data point, we can design a multi-year drilling program to fully develop the structure," says Chief Executive Paul Baay.

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