Extracting a required string form a string stored in txt file

Question

I have the below information in a txt file which is of 300lines

5.2.7.1  timer value  ($D125)
5.2.7.2  Power back information  ($05B2)
5.2.7.3  Time Since power off  ($05B4)
5.2.7.4  highspeed mode State  ($0730)

I want the below information to be read and stored two different strings

For Example

str1 = timer value
str2 = D125

Need a PYTHON Script , compatible with PYTHON 2.7.5.

Answer 1

I am also new to python and have no experience, but I managed to develop the code below which is not the best code possible, but I guess the output is exactly what you want:

import re

f = open('a.txt').readlines()
str1 = []
str2 = []
for i in f:
    res = re.sub("\n", '', i)
    res = re.sub("\d.\d.\d.\d  ", "", res)
    str = re.split("\(\$", res)
    str[1] = re.sub("\)", '', str[1])
    str1.append(str[0])
    str2.append(str[1])
print(str1)
print(str2)

As @Milind mentioned, RegEx could help you find patterns.
I assumed that txt file's name as a.txt.

Answer 2

str_1= str[str.find(start_str)+len(start_str):str.rfind(end_str)]

All you have to do is initialise start_str = "XXXXXXX" and end_str = "YYYYY".