Slide 1: Corporate Presentation May 2025
Corporate Presentation MAY 2025 TSX : TXP | AIM : TXP CORPORATE PRESENTATION Our Growth Journey: Evolving to a fully-funded, full-cycle exploration and production company
Slide 2: Touchstone at a Glance
Touchstone at a Glance Largest independent onshore producer in Trinidad Market capitalization(1) C$112.1 million Three months ended March 31, 2025 average daily production Crude oil and liquids (bbls/d) 1,201 Natural gas (Mcf/d) 18,698 Average daily production (boe/d) 4,317 2024 Gross 2P reserves(2)
Slide 3: The Trinidad opportunity
The Trinidad opportunity One of the Caribbean's most promising energy markets Well-established Advanced infrastructure Oil and gas industry operating since Over 2,000 km. of pipelines 1908 Supportive government Significant hydrocarbons Sector plays an important role in the Situated in the Venezuela
Slide 4: First Quarter 2025 Highlights
First Quarter 2025 Highlights Q1 2025 Q1 2024 Average daily production Crude oil and liquids (bbls/d)(3) 1,201 1,428 Natural gas (Mcf/d) (3) 18,698 33,521 Average daily production (boe/d) (3) 4,317 7,015 Average realized prices(3) Crude oil and liquids ($/bbl) 63.87 69.88 Natural gas ($/Mcf) 2.50 2.
Slide 5: Where We Have Been: Corporate net production
Where We Have Been: Corporate net production Corporate Net Production 10,000 9,000 8,000 7,000 6,000 boe/d 5,000 4,000 3,000 2,000 1,000 - Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 Crude Oil (bbls/d) Coho (boe/d) Cascadura Pad A (
Slide 6: Acreage: We have the land
Acreage: We have the land Charuma Touchstone Today Exploration 72,784 acres (58,227 net) ❖ 8 core properties TXP: 80% working interest Rio Claro ❖ 100% operated NGC: 20% working interest Exploration and Development Cretaceous prospectivity 31,983 acres (25,586 net) ❖ 81% average W.I. TXP: 80% workin
Slide 7: Central Block: adjacent existing blocks
Central Block: adjacent existing blocks Central Block Ortoire • 100% operated • 65% working interest • 35% HPCL COHO-1 Central Block • 6,699 gross acres (4,354 net) BRE-1 • Liquids sales to HPCL • Multiple gas sales options BR-1 ‒ Pipeline to LNG markets ‒ Pipeline to domestic markets CR-2 CR-1 • Co
Slide 8: Central Block: adjacent existing facility
Central Block: adjacent existing facility Central Block Evergreen Gas Facility Evergreen Gas Plant • Carapal Ridge-1 (CR-1) • Carapal Ridge-2 (CR-2) CR-2 • Baraka-1 (BR-1) • Baraka East-1 (BRE-1) CR-1 CIPERO Cascadura ORTOIRE Coho BRE-1 Evergreen Gas Facility BR-1 • Built by BG and commissioned in 2
Slide 9: Central Block: development outlook
Central Block: development outlook Phased Central Block development plan Initial 12 months Initial 18 months 18 months onwards PHASE 1 PHASE 2 PHASE 3 Process additional gas from Coho Drill additional wells; two Optimise four existing wells locations identified Process third party gas Corporate Pres
Slide 10: Distribution and Marketing: We have the market
Distribution and Marketing: We have the market Trinidad and Tobago Point Lisas • Petrochemical facilities ❖ 4 Bcf/d total • Potash Corp and Yara - Ammonia • Methanex – Methanol potential demand • Arcelor Mittal – Steel ❖ 2.5 Bcf/d total supply (4) Do me sti cM ar ke t Pointe-A-Pierre – HPCL • Oil st
Slide 11: Shell Acquisition: Expands our access to the market
Shell Acquisition: Expands our access to the market Marketing Agreements ❖ Ortoire Gas: Domestic Market Oil: HPCL Point Lisas • Petrochemical facilities • Potash Corp - Ammonia ❖ Rio Claro, Cipero, Charuma • Methanex – Methanol Gas: Uncontracted • Arcelor Mittal – Steel Do me Oil: Uncontracted (HPCL
Slide 12: Facilities: We have the capacity
Facilities: We have the capacity Balata East Oil battery Sales point for Cascadura liquids 6” sales pipeline (~18 km.) Two Operated Natural Gas Plants 600 bbls processing; 2,500 bbls sales ❖ Cascadura 140 MMcf/d natural gas capacity Cascadura A Natural Gas Facility 4,000 bbls liquids storage Commiss
Slide 13: Three Pillars of Progress: Fill. Grow. Future.
Three Pillars of Progress: Fill. Grow. Future. Drill to Fill Drill for Growth Drill for the Future We are filling capacity by Our legacy oil blocks With eyes on exploration, harnessing the potential continue to thrive, we are breaking new of Coho and Cascadura, growing production ground in Ortoire,
Slide 14: Drill for the Future: New Exploration Acreage
Drill for the Future: New Exploration Acreage CIPERO CHARUMA RIO CLARO CHARUMA RIO CLARO Balata East 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 updip of Cretaceous sands at ~7,000 feet discoveries at Cascadur
Slide 15: Social and Governance
Social and Governance We recognize that long-term success is rooted in a strong foundation of education—from primary through to tertiary levels—and in our commitment to making a positive, lasting impact on the communities where we operate Social Governance 2 37.5% lost time incidents female represen
Slide 16: Corporate Information and Contacts
Corporate Information and Contacts Contacts Stock Exchange Listing Office Locations TSX: TXP Paul R. Baay AIM: TXP President and Chief Executive Officer Head Office pbaay@touchstoneexploration.com Suite 4100, 350 7th Ave SW Year-end (403) 750-4488 Calgary, AB T2P 3N9 December 31 Office: (403) 750-44
Slide 17: 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 18: End Notes
End Notes 1. Based on 311,460,661 outstanding common shares multiplied by the closing share price on the TSX on May 16, 2025, being C$0.36 per share. 2. Based on the December 31, 2024 GLJ Ltd. independent reserves evaluation. Gross reserves are the Company's working interest share before the deducti
Slide 19: 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 20: Advisories: Forward-looking Statements
Advisories Forward-looking Statements (continued) With respect to forward-looking statements contained in this Presentation, the Company has made assumptions regarding: financial condition; outlook and results of operations; the potential closing of the STCBL acquisition, including expected timing,
Slide 21: Advisories: Business Risks
Advisories Business Risks (continued) The Company is subject to industry conditions including changes in laws and regulations, including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced. There are uncertainties in estimating the Company's re
Slide 22: Advisories: Product Type Disclosures
Advisories Product Type Disclosures This Presentation includes references to crude oil, NGLs, natural gas, and average daily production volumes. Under NI 51-101, disclosure of production volumes should include segmentation by product type as defined in the instrument. In this document, references to
Slide 23: Advisories: Non-GAAP Financial Measures
Advisories Non-GAAP Financial Measures (continued) Market capitalization is a supplementary financial measure and is calculated as period end common share price multiplied by the number of common shares outstanding at the end of the period. Management believes that market capitalization provides a u