Touchstone Exploration

Touchstone Exploration is an independent oil and gas company that operates in Trinidad and Tobago. The company’s activities span exploration, development and production and it is the largest independent onshore oil and gas producer in the country. Touchstone is based in Calgary, Canada, and its shares trade on the Toronto Stock Exchange and the London Stock Exchange under the symbol TXP.

The company holds and operates approximately 145,000 net acres distributed among the following blocks in southern Trinidad:

• Ortoire
• Cipero
• Charuma
• Rio Claro

Together, they hold an estimated gross 2P reserves of up to 67 million boe. Average daily production from the blocks is around 6,300 boepd, and the company has infrastructure in place to support production increases up to approximately 42,000 boepd, including two operated natural gas plants and six operated oil batteries.

Touchstone’s natural gas acreage is centred around the Ortoire block, where it holds an 80% working interest alongside state-owned Heritage Petroleum Company Limited. In this area, the company has made significant discoveries in the Coho-1, Cascadura-1ST1 and Cascadura Deep-1 wells.

The company’s oil acreage is spread across 4,625 net acres in southern Trinidad that comprise six development blocks which yield an average production of approximately 1,100 bopd.

The company’s exploration acreage is distributed among its holdings and therefore already served by gas infrastructure. Most of the acreage has been covered by 3D seismic surveys.

Touchstone Exploration’s oil and gas output is primarily channelled to petrochemicals and industrial companies based at the Point Lisas Industrial Estate, the Atlantic LNG liquefaction facility at Point Fortin and Heritage Petroleum Company’s storage facilities in Pointe-a-Pierre.

The company aims to increase its production to 20,000 boepd and meet the growing demand for hydrocarbons in the Trinidadian domestic market. To this end, it continuously evaluates potential asset acquisitions and value-accretive M&As.

Company website: www.touchstoneexploration.com