Our goal is to be the largest and most profitable onshore producer - PowerPoint PPT Presentation

“Our goal is to be the largest and most profitable onshore producer in Trinidad” May 2019 Follow us: LSE / TSX: TXP 1

Tou ouchstone Exp xploration In Inc. c. 2 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 Information Certain information regarding Touchstone Exploration Inc. (“Touchstone” or the “Company”) set forth in this presentation, including assessments by the Company’s Management of the Company’s plans and future operations contains forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and other similar expressions. Statements relating to “reserves” and “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and can be profitably produced in the future. The Company has a reasonable basis for disclosing such statements, which represent the Company’s internal projections, estimates or beliefs concerning future growth, and results of operations. With respect to forward looking information contained in this presentation, the Company has made assumptions regarding, among other things: production rates and production decline rates; the success of exploration opportunities; the magnitude of and ability to recover oil and gas reserves; plans for and results of drilling activity; well abandonment costs; the ability to secure necessary personnel, equipment, production licenses and services; environmental matters; future commodity prices; changes to prevailing regulatory, royalty, tax and environmental laws and regulations; the impact of competition, future capital and other expenditures (including the amount, nature and sources of funding thereof); future financing sources; and business prospects and opportunities, among other things. Many of the foregoing assumptions are subject to change and are beyond the Company's control. Some of the risks that could affect the Company's future results and could cause results to differ materially from those expressed in the forward looking information are described under the heading “Business Risks” in this presentation. New factors emerge from time to time, and it is not possible for Management to predict all of such factors and to assess in advance the impact of each such factor on Touchstone’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. In particular, forward-looking statements contained in this presentation may include, but are not limited to statements with respect to: the Company’s operational strategy, including targeted jurisdictions and technologies used to execute its strategy; the success of any new exploration opportunities; production levels; the quantity and estimated commerciality of the Company’s reserves; drilling and recompletion plans and the anticipated timing thereof; and activities to be undertaken in various areas. 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 no obligation to update any forward-looking statements or information except as required by law, including securities laws. All forward-looking statements and information contained in this presentation are qualified by such cautionary statements.

Bu Busin ines ess Str trateg egy 3 Growth Scalable Economic Growth Exploration Upside Value Creation 19 onshore blocks, 10 Exploring new opportunities Cash flow positive with a producing blocks and over that if successful could balance sheet to 200 defined drilling represent step changes for the support our current locations (1) Company exploration program

Q1 2019 Fin inancia ial Pos osit ition 4 Three months ended March 31, 2019 2018 Petroleum sales ($000’s) 11,015 8,212 Average crude oil production (bbls/day) 2,121 1,543 Operating netback ($/bbl) (3)(5) 29.35 26.52 Funds flow from operations ($000’s) 2,430 2,062 Net (loss) earnings ($000’s) (185) 130 Capital expenditures ($000’s) 759 3,029 Capital Structure March 31, 2019 Dec. 31, 2018 Common shares outstanding 160,688,095 129,021,428 Market capitalization (C$000’s) (1) 36,155 25,804 Cash ($000’s) 7,586 3,554 Working capital surplus (deficit)($000’s) (2)(3) 1,963 (3,318) Credit facility principal balance (C$000’s) 15,000 15,000 Net debt ($000’s) (3)(4) 10,016 14,322

Stoc ock Perf erformance: AIM IM 5 Touchstone vs. AIM Source: GMP FirstEnergy

Land Pos La osit ition 6 Balanced Approach to Value Creation Exploration Upside Scalable Economic Growth Ten developed and producing blocks Nine undeveloped or exploration blocks 7,910 net working interest acres 54,297 net working interest acres Total Proved Reserves of 11,222 Mbbls (1) BECR of 3,002 Mboe (unrisked) and 2,852 Mboe (risked) (2) Total Proved + Probable Reserves of 19,275 Mbbls (1) BECR of 18,801 Mboe (unrisked) and 6,385 Mboe (risked) (2) P.A.P. REFINERY 4 SAN FERNANDO COROSAN ORTOIRE BARAKA EAST BARAKA BARRACKPORE CARAPAL RIDGE CARAPAL RIDGE NEW DOME WD-8 SAN FRANCIQUE FYZABAD WD-4 COORA SOUTH PALO SECO PALO SECO *BECR = Best Estimate Contingent Resources

Average Mon onthly Producti tion 7 2,500 Touchstone Crude Oil Sales January 1, 2016 through April 30, 2019 2,000 Crude Oil Production (bbls/d) 2018 New Wells 1,500 2017 New Wells Recompletions 1,000 Base production 500 Swab production 0 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19

De Developmen ent t Well ell Econ onomics (1)(2)(3) 8 Payout Period for New Wells (months) Oil Production Rate (bbls/d) – No decline 30 50 70 90 110 130 150 170 $50 72 41 28 21 17 14 12 11 $55 60 34 23 18 14 12 10 9 Brent Oil Price (flat) $60 68 35 23 17 14 11 10 9 $65 56 29 20 15 12 10 9 8 $70 47 25 17 13 11 9 8 7 $75 41 22 15 12 10 8 7 6 $80 36 20 13 10 9 7 7 6

Onshore Dr Drill llin ing Act ctiv ivity in in Trin rinidad 12 2018 Onshore Drilling Total Feet Drilled by Operator 60,000 11 wells (2) 2018 Drilling Activity (Publicly Available Data) (1) 50,000 Measured Feet Drilled 40,000 8 wells 30,000 5 wells 4 wells 20,000 3 wells 10,000 0 wells 0 wells 0 wells 0 wells 0 Touchstone Petrotrin PCSL Trinity Lease Operators Fram Columbus Rocky Point Range Exploration Exploration Exploration Resources Operator

Ort rtoire Exp xplo loration Prospects 10 Eleven internally identified exploration locations defined by four general prospects: » Corosan Gas Prospect First Well COHO-1 (estimated June 2019 spud date) est. TD 8,500’ » Ortoire West Oil Prospect First Well CASCADURA-1 est. TD 8,160’ » Ortoire Central Gas Prospect First Well ROYSTON-1 est. TD 11,500’ » Ortoire East Oil Prospect Four potential locations est. TD 6,000’ Balata East ORTOIRE BLOCK 10 mmbbls 80% Working Interest 35,785 net WI acres West ROYSTON-1 CASCADURA-1 Corosan East COHO-1 Central Navette Catshill 60 mmbls Central Block 30 mmbbls 500 bcf 25 mmboe Liquids

COHO-1 1 Prospect t – Fir irst Well ell Co Corosan Area 11 Corosan Corosan Gas Opportunities Vintage Petroleum Inc. Three unique locations identified Corosan (COR-1) (individual anomalies/fault blocks) Spud: June 15, 2001 Gas processing facility at Carapal Ridge (Shell operated) Approximate 3.5 km. tie-in provides access to NGC and LNG sales streams COHO-1: Herrera gas target Offsetting 500 bcf Central Block DST #4 3.7 MMcf/d Key well with gas test drilled in 2001 Gauged 8.2 MMcf/d of gas COHO-1 COROSAN-1 (spud June 2001) Vintage Petroleum Inc. (Aventura/Vermillion) 60 feet of Net Hydrocarbon (Rt >4 Ω ) 6 Drill Stem Tests Test #3 5760- 68’ (8’NOS) 4.4 MMcf/d Test #4 5500- 16’ (16’NOS) 3.7 MMcf/d COHO-1 Surface Location – March 2019 DST #3 4.4 MMcf/d