Touchstone Exploration Inc · TSX:TXP
Touchstone Exploration — Q3 2023 Earnings Presentation
16 slides from Touchstone Exploration's earnings presentation, Nov 15, 2023
Slide 1: Third Quarter 2023 Conference Call
TSX : TXP | AIM : TXP Third Quarter 2023 Conference Call November 15, 2023 Our Growth Journey: Evolving towards a sustainable, full-cycle exploration and production company
Slide 2: Touchstone Today
Touchstone Today Building a sustainable, full-cycle exploration and production company Full-Cycle E&P Company Onshore Trinidad Proven Track Record for Growth • Situated within the Venezuela basin • Significant discoveries onshore in Trinidad • Robust demand for energy at • Actively engaged in transa
Slide 3: 2023 Q3 Highlights
2023 Q3 Highlights Q3 2023 Q3 2022 167% Average daily production Increase in production Crude oil and liquids(1) (bbls/d) 1,359 1,272 from Q3 2022 Natural gas(1) (Mcf/d) 12,191 - Average daily production (boe/d)(2) 3,391 1,272 18% Average realized prices(3) Increase in petroleum and Crude oil and li
Slide 4: Largest Independent Producer in Trinidad
Largest Independent Producer in Trinidad Located on hydrocarbon source rock Legacy blocks developed from thick Exploration block Carbon-rich fairway Charuma Ortoire block Trinidad October 2023 average net production Awarded blocks(2) 8,917 boe/d Asset Exchange blocks(1) Rio Claro Balata East Activel
Slide 5: Advancing Our 2023 Objectives
Advancing Our 2023 Objectives Exploration and Development Execution Completed the construction of our Cascadura facility and safely delivered first gas at Cas-1ST1 and Cas Deep-1 ✓ Achieved first production on September 6, 2023 and September 14, 2023 ✓ Currently producing 7,234 boe/d net (9,042 boe/
Slide 6: Cascadura Development
Cascadura Development Increase production and optimize the Cascadura facility through development drilling at Cascadura-2 and Cascadura-3 Cascadura C drill pad: • Located northeast of Cascadura-1ST1 and Cascadura Deep-1 • Approved for the potential drilling of 4 wells Cascadura-2: • The first Cascad
Slide 7: CO-1 Development
CO-1 Development Type Log (CO-369) UPPER CO-1 drill pad: FOREST • Fully constructed and awaiting rig CO-1 – IL9(1): • First CO-1 development well LOWER FOREST • Target Cruse and Forest formations CO-1 – IL9(2): • Second CO-1 development well • Target Cruse and Forest formations UPPER CRUSE Corporate
Slide 8: Touchstone's 5-Year Strategy
Touchstone’s 5-Year Strategy Focus on exploration and development prospects that leverage our potential gross facility capacity of 42,333 boe/d 229 50 2 ~20,000 boe/d Drilling locations High-grade Rig drilling Potential growth identified development wells program in gross production Corporate Presen
Slide 9: Investment Case
Investment Case What makes Touchstone a solid investment for long-term growth? Opportunities Substantial Fixed-price gas High quality Opportunities Robust to increase cash flows to contract organic growth to expand domestic production fuel growth delivering prospects asset base demand levels initiat
Slide 10: Corporate Information and Contacts
Corporate Information and Contacts Stock Exchange Listing Contacts Office Locations TSX: TXP AIM: TXP Paul R. Baay Head Office President and Chief Executive Officer Suite 4100, 350 7th Ave SW Year-end [email protected] Calgary, AB T2P 3N9 December 31 (403) 750-4488 Office: (403) 750-44
Slide 11: Abbreviations
Abbreviations bbl(s) barrel(s) 1P Proved reserves bbls/d barrels per day 2P Proved plus probable reserves Mbbls thousand barrels 3P Proved plus probable plus possible reserves MMbbls million barrels AIM AIM market of the London Stock Exchange plc Mcf thousand cubic feet Brent Dated Brent Mcf/d thous
Slide 12: 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 13: Advisories (Continued)
Advisories (Continued) Forward-looking Statements (continued) Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors
Slide 14: Advisories (Continued)
Advisories (Continued) 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
Slide 15: Advisories (Continued)
Advisories (Continued) Oil and Gas Drilling and Test Results References in this presentation to production test rates and estimated initial flow and optimization rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells wi
Slide 16: Advisories (Continued)
Advisories (Continued) Non-GAAP Financial Measures (Continued) The Company uses operating netback as a key performance indicator of field results. The Company considers operating netback to be a key measure as it demonstrates Touchstone's profitability relative to current commodity prices and assist
Touchstone Exploration — Q3 2023 Earnings Presentation on 6ix