Touchstone Exploration Inc · TSX:TXP
Touchstone Exploration — Investor Presentation (November 2025)
32 slides from Touchstone Exploration's investor presentation, November 2025
Slide 1: Investor Presentation November 2025
Investor Presentation November 2025 O u r G row t h J o u r n e y : Evolving to a fully-funded, full-cycle exploration and production c o mp a ny
Slide 2: Solid Foundation in Place: Achievements During a Challenging Year
Solid Foundation in Place: Achievements During a Challenging Year Positive Operating Netbacks: All assets generating operating netbacks with 2025 loan agreement conditions fully satisfied. Central Block Acquired: Successfully completed and integrated the transformational Central block acquisition. O
Slide 3: Trinidad: A Strong License to Operate
Trinidad: A Strong License to Operate Well-Established Jurisdiction Established Partnerships Over 100 years of oil and gas history with A stable, well-regulated jurisdiction based on advanced infrastructure, including 2,000+ km. of English law. The government and the National pipelines and major LNG
Slide 4: Trinidad and Tobago: Oil and Gas Activity Map
Trinidad and Tobago: Oil and Gas Activity Map 4
Slide 5: Central Block: A Game Changer
Central Block: A Game Changer Our new growth engine - includes the 80 MMcf/d Central block facility, providing immediate, large-scale processing capacity. 6 months since completion Integration Significant 'low hanging Access to successfully completed fruit' cost savings higher pricing Field enhancin
Slide 6: Where We Stand: The Leading Independent Onshore Producer in Trinidad
Where We Stand: The Leading Independent Onshore Producer in Trinidad Multiple operated facilities with gross capacity of ~72,119 boe/d Multiple routes to market CHARUMA Multiple blocks RIO CLARO Growing production CHARUMA CIPERO Cascadura Enhanced pricing Coho ORTOIRE Central Block Significant organ
Slide 7: Where We Are Going
Where We Are Going Near-term focus on Drill where Leverage Continued Accessing balance sheet returns are extensive focus on cost higher natural deleveraging highest and spare control gas prices payback processing fastest capacity Strategy Snapshot OBJECTIVE A self-funding, cash generative, full-cycl
Slide 8: Drill To Fill: Exceptional Facilities
Drill To Fill: Exceptional Facilities Total operated gross facility Seven facilities including three natural gas plants capacity of ~72,119 boe/d Natural Gas 244 MMcf/d Liquids 31,450 bbls Cascadura A Natural Central Block Coho Natural Gas Gas Facility Facility Facility • Commissioned • Acquired May
Slide 9: Net Production: Corporate Total
Net Production: Corporate Total Daily Net Month Production (boe/d) Touchstone Corporate Production April 2025 3,628 11,000 May 2025 4,478 June 2025 5,088 10,000 July 2025 5,300 9,000 August 2025 5,266 8,000 September 2025 4,852 October 2025* 4,739 7,000 6,000 Net boe/d 5,000 4,000 3,000 2,000 1,000
Slide 10: 2025 Work Program
2025 Work Program Cascadura-5: Successfully drilled, completed, and brought on production. This well validated our new, lower-cost drilling methodology, delivering the project on time and proving our operational efficiency. Carapal Ridge 3: Currently drilling our first well at the Central block, and
Slide 11: 2026 Work Program
2026 Work Program ‘Drill to Fill’ Central block: Execute a multi-well development program (e.g. Carapal Ridge 4, 5, 6) to fill the 80 MMcf/d facility. These represent the Company's highest-return projects, with any potential incremental natural gas sold at LNG-linked prices. Commission Cascadura Com
Slide 12: Development Drilling: Central Block - Carapal Ridge (CR-3)
Development Drilling: Central Block - Carapal Ridge 3 (CR-3) CR - 3 CR - 1 CR - 2 CARAPAL RIDGE-1 Touchstone Trinidad Central Block Vintage Petroleum 2001 British Gas (BG) 2007 Carapal Ridge, Baraka, Baraka East Test Intervals Test #8 (38 feet) Gas: 20.3 MMcf/d PRODUCING INTERVAL NGL: 445 bpd Choke:
Slide 13: Cas-A Booster Compression Project: Ensuring Production Stability
Cas-A Booster Compression Project: Ensuring Production Stability Cascadura Facility - No Compression higher NGC's export pipeline pressure changes of 200 psi cause ~1,000 boe/d production variability Pressure (psi) Production (boe/d) Impacts all the wells flowing through the Cascadura natural gas fa
Slide 14: Cas-A Booster Compression Project: Delivery and Installation on Track
Cas-A Booster Compression Project: Delivery and Installation on Track New 3,750 horsepower Currently undergoing compressor unit has modifications to meet the been procured technical requirements at in Texas the CAS-A facility Site installation and Gross budgeted project commissioning targeted cost o
Slide 15: Reservoir Stimulation: Cascadura and Central Block
Reservoir Stimulation: Cascadura and Central Block Well Fracture stimulation is a technique that involves casing pumping fluid and sand into a reservoir which creates permeable flow paths (fractures) allowing Water, Gas then hydrocarbons to flow more freely from the reservoir. sand, and flows chemic
Slide 16: Drilling: Optimizing Costs and Operations
Drilling: Optimizing Costs and Operations Optimized Mud Systems Improved Cost & Predictability Portfolio-wide Application Refined drilling fluid programs to The Cas-5 well proved our new, lower- These efficiencies are now being successfully manage complex and cost drilling methodology, which is depl
Slide 17: A Deep Inventory of Opportunities
A Deep Inventory of Opportunities Upside: Multiple follow-up locations at Carapal Ridge, Baraka, and Baraka East Next-Step Exploration Creative Development High-Impact Upside Advancing oil and gas prospects in Strategic divestment of a non-core "Offshore style opportunity onshore" the Herrera and Na
Slide 18: Growth Opportunity: Exploration Acreage
Growth Opportunity: Exploration Acreage CIPERO CHARUMA RIO CLARO CHARUMA RIO CLARO CIPERO Exploration prospects in the Nariva sands target depths from 2,000 to 5,000 feet and in Step-out prospects in the Herrera sands up dip of discoveries at Cretaceous sands at ~7,000 feet Cascadura and Royston Exp
Slide 19: Upside Opportunity: Cretaceous Exploration
Upside Opportunity: Cretaceous Exploration Touchstone has identified multiple Cretaceous anomalies on our exploration blocks which have the potential to unlock a new onshore play type with ties to offshore discoveries near Guyana 1993 1994 1995 2005 2006 2015 2025 Exxon's RP-1 Drilled to Exxon's IGR
Slide 20: Pricing Opportunities Provide Low-Cost Cash Flow Upside
Pricing Opportunities Provide Low-Cost Cash Flow Upside Our blended marketing strategy is designed to add significant value by combining revenue stability with high-impact upside Domestic Stability Global Upside Cascadura Pricing High-Margin (Cas, Coho) (Central Block) Negotiations Volume Growth Fix
Slide 21: Attractive Pricing Structure Provides Significant Upside
Attractive Pricing Structure Provides Significant Upside Legacy Block Pricing Structures Central Block Pricing Structures Oil Blocks Receive a base price for the first 4.6 Bcf September 2025 YTD average price of $60.92 per bbl, produced next year at the Central ~14.2% differential to Dated Brent – o
Slide 22: Strengthening Financial Foundations
Strengthening Financial Foundations Positive funds flow from 2025 Loan Agreement Cost reductions to support operations conditions fully satisfied 2026 performance 01 02 03 Optimized Board structure Achieving asset Strengthening capital for enhanced governance optimisation by reducing position with a
Slide 23: 2026 Delivery
2026 Delivery H2 2026 Execute "Drill to Fill" program at Central block with Carapal Ridge follow-up development wells. Q2 2026 Install and commission the Cascadura booster compressor to stabilize production and increase plant deliverability. Q4 2025 Q1 2026 Bring Cascadura-5 online (Nov If successfu
Slide 24: Guidance
Guidance Updated 2025 guidance 2026 cash generation expected to benefit from • Forecasted annual production of 4,700 boe/d • Full year of operations from Cas-5 • Expected funds flow from operations of $4MM • Potential commencement of new production from CR-3 in Q1 • Net debt at YE forecasted at $69M
Slide 25: The Touchstone Investment Case
The Touchstone Investment Case Value Opportunity: Significant upside based Production Growth: Disciplined plan for on land package, scale of facilities and production uplift in 2026 from the Cascadura pricing inflexion point. and Central fields. Positive Funds Flow: 2025 loan High-Impact Upside: Dee
Slide 26: Corporate Information and Contacts
Corporate Information and Contacts Stock Exchange Listing TSX: TXP AIM: TXP Contacts Office Locations Year-end Paul R. Baay Head Office December 31 President and Chief Executive Officer Touchstone Exploration Inc. pbaay@touchstoneexploration.com Suite 4100, 350 7th Ave SW Banker (403) 750-4488 Calga
Slide 27: Abbreviations
Abbreviations bbl(s) barrel(s) PDP proved developed producing reserves bbls/d barrels per day 1P proved reserves Mbbls thousand barrels 2P proved plus probable reserves MMbbls million barrels 3P proved plus probable plus possible reserves Mcf thousand cubic feet AIM AIM market of the London Stock Ex
Slide 28: Advisories
Advisories This presentation is for information purposes only and is not under any circumstances to be construed as a prospectus or an advertisement for a public offering of such securities. No securities commission or similar authority in Canada or elsewhere including the TSX has in any way passed
Slide 29: Advisories
Advisories Forward-looking Statements and FOFI (continued) • future capital expenditure programs, including the anticipated timing of completion, allocation and costs thereof and the method of funding; • future development and exploration activities to be undertaken in various areas and timing there
Slide 30: Advisories
Advisories Forward-looking Statements and FOFI (continued) This presentation contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Touchstone's prospective results of operations and production included in its updated 2025 guidance, all of which
Slide 31: Advisories
Advisories Oil and Gas Reserves All reserves references herein are Company gross reserves. Gross reserves are the Company's working interest share before deduction of royalties. Net reserves are the Company's working interest share after the deduction of royalty obligations. The December 31, 2024 re
Slide 32: Advisories
Advisories Drilling Locations This presentation may disclose drilling locations. Drilling locations are classified into three categories: (i) proved locations; (ii) probable locations; and (iii) unbooked locations. Proved locations and probable locations are derived from the Company's reserves evalu
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