Touchstone Exploration Provides An Operational Update

About this update from Touchstone Exploration Inc

CALGARY, AB / ACCESS Newswire / May 28, 2026 / Touchstone Exploration Inc. ("Touchstone", "we", "our" or the "Company") (TSX, LSE:TXP) provides an update on its recent operational activities in the Republic of Trinidad and Tobago. Highlights Paul R. Baay, President and Chief Executive Officer, commented: "Operationally, our focus remains on efficiently converting reserves into near-term cash flow. The addition of two development wells on our legacy WD-8 oil block provides immediate, stable cash flow that capitalizes on current strong global crude oil prices. Crucially, these wells were funded via our strategic exchange of the Fyzabad asset last year, which produced approximately 49 barrels per day in 2025, representing an excellent allocation of capital. Simultaneously, we are on the verge of expanding our natural gas throughput capacity at Cascadura as compressor installation advances toward a June 2026 commissioning. At the Central field, the CR-3 well is awaiting coiled tubing services to commence a well intervention to unlock its full productivity. We continue to prioritize disciplined capital allocation, focusing on high-return well and facility optimizations." Operational Update WD-8 Block Drilling Following the conclusion of the WD-8 drilling campaign, the FR-1835 and FR-1836 development wells were completed and brought online in mid-May. Combined production from the two wells has averaged a field estimated 175 barrels per day of medium-gravity crude oil, performing in line with internal expectations. Field operations teams are currently optimizing production flow rates. Turnkey drilling costs for both wells were funded by the drilling operator under the terms of the strategic asset exchange agreement executed by the Company in 2025. Central Block Natural Gas Marketing Atlantic LNG Train 4 is undergoing planned maintenance from May 26 through July 19, 2026. Additionally, the main transportation pipeline serving Atlantic LNG will be offline for planned maintenance between June 15 and June 29, 2026. During these scheduled infrastructure outages, Touchstone's natural gas volumes from the Central block are being redirected to Atlantic LNG Train 2/3 or the domestic market. The Company expects this temporary diversion to positively impact its net realized gas price. Based on current benchmark strip pr...

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