stockupticks newsletter
Stocknight ListServer
bounce-stocknight-163101 at lyris.stocknight.com
Thu Jun 21 18:15:49 PDT 2001
[Stockupticks.com] [Image]
[Image]
Welcome to Stockupticks.com Newsletter Issue 8 -June 21, 2001
[Image]
[Image][Image] [Image]
[Image]
[Image]Touchstone Resources Ltd. (CDNX: TUT.V) [Image]
The performance of the Canadian Venture Exchange
(CDNX) can best be measured by comparing it with
the U.S. Nasdaq Composite 100. The CDNX began
with its indices value set at 2000 on November
11, 1999. The main index closed trading on June
1, 2001 at 3,251. That's a 62% increase. In
comparison, during the same time period the
Nasdaq Composite suffered a 38% decline, from
3,421 on November 11, 1999 to close at 2,149 on
June 1, 2001.
Touchstone Resources Ltd., based in Houston,
Texas, is an aggressive oil and gas exploration
company targeting high-potential assets through
a focused strategy of utilizing industry
relationships, world class contract consultants
and the most modern industry technologies.
Touchstone announced today a new significant
discovery of natural gas in the renowned Permian
Basin ( Texas), the largest natural gas field in
the U.S. Click TUT.V here for stock quote.
[Image]*** BREAKING NEWS *** ***BREAKING [Image]
NEWS*** ***BREAKING NEWS***
Editor's note: This release was issued after market
meaning that no one, as yet, has been able to react.
Discovery To Produce 5.5 Million Cubic Feet of
Natural Gas Per Day
Touchstone Announces Ligonbach Simpson Interval
HOUSTON, June 21 /PRNewswire/ -- Touchstone Resources
USA, Inc. (CDNX: TUT.V ) announces that the Ligon
State 22 #2 sidetrack has completed a open hole drill
stem test of the middle Simpson formation over an
interval from 14,920 feet to 15,250 feet. Fractured
limestone was tested at a rate of 5.5 MMCFPD during a
1 hour flow period. The well is being drilled to a
proposed depth of 18,500 feet to test the Ellenburger
formation. The original well reached a depth of
16,640 feet, but failed to reach its objective
because of thrust faulting.
An Atoka zone above 12,000 feet had strong mud-log
shows and may be behind pipe pay.
The operator encountered a number of Delaware sands
in the original hole from approximately 5,000-7,000
feet. Several of these intervals were cored and are
considered potential pay sands. Subsequently, the
Ligon State 22 #3, located to the east of the #2, was
drilled to a depth of 6,830 feet and completion
efforts have commended on the lowermost interval.
The Ligonbach Prospect, in the Waha/Lockridge
Project, is located in Reeves County, Texas.
For more information on Touchstone and any of
Touchstone's projects, please visit
www.touchstonetexas.com.
For further information contact:
David Daniels at: Telephone: (713) 784-1113,
Facsimile: (713) 785-8530
or e-mail at ddaniels at touchstonetexas.com
The Canadian Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or
accuracy of this release.
Click here to view latest news
SOURCE: Touchstone Resources USA, Inc.
[Image]FEATURED REPORT [Image]
The Research Works, Inc, the publishing division of
stocksontheweb.com, publishes reports on companies
they feel have strong sales and earnings prospects,
proprietary assets, and capitalizations that are low
relative to their earnings potential. They recently
ran a report on Touchstone Resources:
Use of Advanced Seismic Technologies to Maximize the
Success Rate for Discovery of High-Impact Oil and
Gas Prospects
Touchstone Resources Ltd. (the "Company") is engaged
in the exploration and development of oil and gas
prospects in East and West Texas and southern
Louisiana. Its strategy is to grow its oil and gas
production and reserves rapidly by (1) partnering
with larger independent oil companies in particularly
promising projects and (2) developing its own
properties based on its proprietary 3-D seismic data
sets and its well regarded in-house expertise in
analyzing 3-Dseismic data.
Among the Company's key proprietary assets are an
extensive library of 3-D seismic data and in-house
technical capability to work the data. The library
consists of nearly 1,000 square miles of data in East
Texas and approximately 250 square miles in West
Texas. The technical people working the data have
developed proprietary algorithms to assist them in
data interpretation.
The Company has a half dozen major oil and gas
projects underway. There are six rigs drilling,
including three for deep drilling; six wells testing
and completing; and seven wells producing. Management
has a knowledge base relating to deep gas reserves
that is unusual for a company of this size. Early
results from drilling activity are very encouraging,
and there could be six to seven new production wells
per month through year-end. The Company is hopeful
that its projects will have some very sizable
discoveries in the near term.
Significant oil and gas production is expected to
begin early this summer and build rapidly over the
following several years. Management recognizes the
value of maintaining low corporate overhead, and it
outsources many functions in an attempt to minimize
overhead expenditures. Estimates for 2002 show
potential production of 9.16 BCFE and potential cash
flows of $34.4 million.
Estimates of the reserves and economics of the major
projects show that the present value of the cash
flows (discounted at 10%) is $366 million. This
compares with an equity market capitalization for the
Company of only $41 million.
Click here for the complete article.
[Image]Contact Information [Image]
Touchstone Resources USA, Inc.
5858 Westheimer, Suite 708
Houston, Texas 77057
Telephone: (713) 784-1113
Facsimile:(713) 785-8530
Toll Free: (877) 829-0357
E-mail: info at touchstonetexas.com
Website: www.touchstonetexas.com
[Image]Disclaimer and Safe Harbor Statement: [Image]
Safe Harbor Statement:
Statements contained in this document, including
those pertaining to acquisitions, earnings estimates
and related commercial plans other than statements of
historical fact, are forward-looking statements
subject to a number of uncertainties that could cause
actual results to differ materially from statements
made.
Disclaimer:
StockUpTicks.com is a property of Market Pathways
Financial Relations Incorporated (MP). The
information, opinions and analysis contained herein
are based on sources believed to be reliable but no
representation, expressed or implied, is made as to
its accuracy, completeness or correctness. This
report is for information purposes only and should
not be used as the basis for any investment
decision. MP has been compensated by Godwin
Financial (a shareholder) 15,000 shares of stock to
prepare and disseminate this report. This
compensation constitutes a conflict of interest as to
MPs ability to remain objective in its communication
regarding the subject company. Write or call MP for
detailed disclosure as required by Rule 17b of the
Securities Act of 1933/1934. MP is not an
investment advisor and this report is not investment
advice. This information is neither a solicitation
to buy nor an offer to sell securities. Information
contained herein contains forward-looking statements
and is subject to significant risks and
uncertainties, which will affect the results. The
opinions contained herein reflect our current
judgment and are subject to change without notice.
MP and/or its affiliates, associates and employees
from time to time may have either a long or short
position in securities mentioned. It is the
responsibility of the brokerage firm to verify Blue
Sky status in each trading state. Information
contained herein may not be reproduced in whole or in
part without the express written consent of Market
Pathways Financial Relations Incorporated.
[Image][Image] [Image]
[Image]
© Stockupticks 2001, All rights reserved
[Image]
---
You are currently subscribed to stocknight as: cypherpunks at algebra.com
To unsubscribe send a blank email to leave-stocknight-163101P at lyris.stocknight.com
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: text/html
Size: 15194 bytes
Desc: not available
URL: <https://lists.cpunks.org/pipermail/cypherpunks-legacy/attachments/20010621/d514dc0e/attachment.txt>
More information about the cypherpunks-legacy
mailing list