Touchstone Exploration Inc · TSX:TXP
Touchstone Exploration — Investor Presentation (July 2023)
23 slides from Touchstone Exploration's investor presentation, July 2023
Slide 1: Driving production growth, profitability and responsibility in the Trinidad energy industry
Corporate Presentation July 2023 Driving production growth, profitability and responsibility in the Trinidad energy industry TSX : TXP | AIM : TXP
Slide 2: Why Touchstone
Why Touchstone Innovative and dynamic exploration and production company Strong Production Growth Potential and Proven Reserves ➢ Inventory of development and exploration opportunities(10)(12) ➢ Well positioned to achieve sustained production and reserve growth ➢ Continually exploring new opportunit
Slide 3: Touchstone at a Glance
Touchstone at a Glance TSX, AIM | TXP Market capitalization(1) £142,390,812 First Quarter 2023 Results Daily production 2,139 boe/d Petroleum and natural gas sales $8,476 thousand Funds flow from operations $803 thousand Operating netback(2)(3) $18.97/boe Cash $10,859 thousand Net debt(2)(4) $23,883
Slide 4: Trinidad Oil and Gas Infrastructure
Trinidad Oil and Gas Infrastructure Strong demand for energy resources Trinidad and Tobago Natural Gas Production/Consumption(6) 4,500 Daily Natural Gas Production/Consumption Bcf/d 4,000 Point Lisas 3,500 Industrial Complex 3,000 2,500 2,000 1,500 BALATA CENTRAL 1,000 Pointe-e-Pierre 500 Heritage S
Slide 5: Proposed Asset Exchange
Proposed Asset Exchange (8) High-grading our portfolio within the Herrera turbidite fairway Point Lisas Industrial Complex Rio Claro Rio Claro BALATA CENTRAL Balata East Pointe-e-Pierre Heritage Sales Cascadura Balata East Coho Ortoire Point Fortin Royston Atlantic LNG San Francique Barrackpore Fyza
Slide 6: Touchstone Onshore Bid Round
Touchstone Onshore Bid Round (9) Acquiring additional exploration assets Charuma Point Lisas Industrial Complex BALATA CENTRAL Pointe-e-Pierre Heritage Sales Charuma Cipero Cascadura Coho Ortoire Point Fortin Royston Atlantic LNG San Francique Barrackpore Fyzabad CATSHILL CENTRAL BLOCK PENAL/BARRACK
Slide 7: Touchstone Post Bid Round and Asset Exchange
Touchstone Post Bid Round and Asset Exchange (8)(9) Expanding to becoming the largest independent onshore producer Point Lisas Industrial Complex Rio Claro Rio Claro BALATA CENTRAL Balata East Pointe-e-Pierre Heritage Sales Cipero Cascadura Balata East Coho Ortoire Point Fortin Royston Atlantic LNG
Slide 8: Exploration Upside – Ortoire Block
Exploration Upside – Ortoire Block Utilizing our expertise of the regions geological and reservoir characteristics Coho-1 Cascadura Royston Ortoire Gas discovery Gas discovery Light oil discovery Prospects Q1 2023 net production (boe/d) 854 Est. initial net production (boe/d)(11) 9,200 2P Reserves (
Slide 9: Cascadura Development
Cascadura Development Transformational production profile Cascadura CAS-2 Best estimate TPIIP(5) 460.9 Bcf 2P Reserves(5) 52,082 Mboe CAS C 2P before tax NPV10(5) $603.3 MM Wells drilled CAS-1ST1 & CAS Deep CAS -3 Estimated net initial production(11) 9,200 boe/d Net incremental optimization potentia
Slide 10: Royston Development
Royston Development Discovery of light sweet crude oil Royston Best estimate TPIIP(5) 165.7 MMbbls Overthrust , Intermediate and Subthrust structures 2P Reserves(5) 3,520 Mbbls 2P before tax NPV10(5) $71.2 MM Wells drilled Royston-1 Total depth 10,700 ft. Feet of pay(11) 393 ft. Overthrust and Inter
Slide 11: Ortoire Exploration Prospects
Ortoire Exploration Prospects (12) Exploring the prolific Herrera fairway with significant historical discoveries Exploration Prospects Balata East ➢ Kokanee 10 MMbbls ➢ Kraken ➢ Steelhead Char Sturgeon Cascadura ➢ Gibba Pike Guppy Muskallunge Kokanee Kraken ➢ Guppy Guabine Royston ➢ Pike ➢ Sturgeon
Slide 12: Strategy and Upcoming Milestones: 2023 and Beyond
Strategy and Upcoming Milestones: 2023 and Beyond Significant growth opportunity for Touchstone and the Trinidad oil and gas industry Near term ➢ Complete the final two tests at Royston-1X to evaluate the intermediate sheet in the Herrera Formation ➢ Complete the Cascadura production facility which
Slide 13: Strategy and Upcoming Milestones: 2023 and Beyond
Strategy and Upcoming Milestones: 2023 and Beyond Shareholder opportunity to capitalize on long-term corporate growth Mid term ➢ Design and drill Cascadura-3, contingent on the success of Cascadura-2 ➢ Design and drill development and exploration wells at Royston, contingent on the success of Roysto
Slide 14: Operating Responsibly
Operating Responsibly Having a measurable impact on issues that matter most ➢ Focused on hiring local content, with 83% of our workforce from Trinidad ➢ Continue to target diversity in the workforce, with 27% of our staff female ➢ Enhanced board diversity, achieving gender diversity of 33% female ➢
Slide 15: Why Invest
Why Invest Sustainable growth with long-term shareholder returns Significant near-term production uplift ➢ Estimated cumulative increase in net production from Cascadura-1ST1 and Cascadura Deep-1 of approximately 9,200 boe/d once on production(11) Multiple exploration opportunities on the gas-rich O
Slide 16: Driving production growth, profitability and responsibility in the Trinidad energy industry
Driving production growth, profitability and responsibility in the Trinidad energy industry TSX : TXP | AIM : TXP 16
Slide 17: Corporate Information Abbreviations
Corporate Information Abbreviations Head Office Year end: December 31 bbl(s) barrel(s) Suite 4100, 350 7th Ave SW bbls/d barrels per day Calgary, AB T2P 3N9 Banker: Republic Bank Limited Mbbls thousand barrels Office: (403) 750-4400 Auditor: KPMG LLP MMbbls million barrels Website: www.touchstoneexp
Slide 18: End Notes
End Notes 1) Calculated as the product of the Company's June 30, 2023 closing common share price on AIM (£0.61/share) and 233,427,560 common shares outstanding. 2) Non-GAAP financial or other measure. Refer to "Advisories: Non-GAAP Financial Measures". 3) Operating . Netback Three months ended ($000
Slide 19: End Notes (continued)
End Notes (continued) 5) Based on December 31, 2022 GLJ Ltd. independent reserves evaluations. Gross reserves are the Company's working interest share before deduction of royalties. See "Advisories: Oil and Gas Reserves" and "Advisories: Oil and Gas Measures". 6) Source: Trinidad and Tobago Ministry
Slide 20: Advisories
Advisories Currency Unless otherwise stated, all financial amounts herein are presented in United States dollars. The Company may also reference Canadian dollars ("C$"), Trinidad and Tobago dollars ("TT$") and Pounds Sterling ("£") herein. Forward-looking Statements Certain information regarding Tou
Slide 21: Advisories (continued)
Advisories (continued) Forward-looking Statements (continued) Investors should not place undue reliance on any such forward-looking statements or information. Further, any forward-looking statement or information speaks only as of the date on which such statement is made, and Touchstone undertakes n
Slide 22: Advisories (continued)
Advisories (continued) Oil and Gas Reserves (continued) The recovery and reserve estimates of crude oil, natural gas and NGL reserves provided herein are estimates only, and there is no guarantee that the estimated reserves will be recovered. Actual reserves may eventually prove to be greater than o
Slide 23: Advisories (continued)
Advisories (continued) Drilling Locations This Presentation discloses total 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
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