Touchstone Exploration slumps on liquidity worry

Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) shares slumped, losing 19% to 7.5p, after it flagged near-term liquidity pressure and issued a going concern warning tied to debt covenants and funding needs. It came, however, as the firm reported first-quarter production rose year-on-year, with average daily production up 8% to 4,657 barrels of oil equivalent per day, as output from the Central field helped offset natural declines across legacy assets.