Touchstone's CR-3 well hits 1,082 feet of net sand

Executive Summary

• Touchstone Exploration Inc. announced significant drilling results from the Carapal Ridge-3 (CR-3) development well on the Central block in Trinidad and Tobago, marking the first well drilled into the Carapal Ridge pool in 17 years.
• The well encountered approximately 1,082 feet of net sand, including ~1,000 feet of net Herrera sand, with open-hole logging confirming hydrocarbon-bearing sands throughout the interval.
• Completion operations are underway, with a tie-in to the Central block natural gas processing facility targeted for Q1 2026. The results support the potential for up to three additional Herrera development wells and identified a new gas-charged play in the Karamat formation.

Key Details

• Well Status & Timeline: CR-3 was spudded on Nov. 23, 2025, using Star Valley drilling rig No. 205. It was drilled to a total depth of 8,200 feet over a 35-day period.
• Work Interest: Touchstone holds a 65% operating working interest; Heritage Petroleum Company Ltd. holds the remaining 35%.
• Drilling Performance: The well was approximately 25% over budget due to efforts to control natural gas flows from the Karamat sands. No sidetrack operations were required.
• Herrera Sand Encounters:
  • Total net sand encountered: ~1,082 feet.
  • Total net Herrera sand: ~1,000 feet.
  • Developed reservoir (above shale marker): ~635 feet of net sand at depths between 6,930 feet and 7,770 feet.
  • Unproduced reservoir (below shale marker): ~365 feet of net Herrera sand at depths between 7,770 feet and 8,200 feet.
  • The well remained within clean sand at total depth.
• Horizontal Drilling: Approximately 341 feet was drilled horizontally into the unproduced Herrera sand package to optimize reservoir exposure.
• Karamat Formation: Approximately 82 feet of net Karamat sands were encountered at depths between 6,530 feet and 6,760 feet. This established a second, uphole, gas-charged play being evaluated as a stand-alone prospect.
• Historical Context: Prior tests (Tests 4, 5, and 6) in the offsetting Carapal Ridge-1 well flowed at combined peak average daily test rates of over 20 million cubic feet of natural gas and 500 barrels of condensate for periods of one to two days.
• Completion & Tie-In:
  • Completion operations are currently underway.
  • Initial production will target the undeveloped Herrera sands from the horizontal section below the shale marker.
  • Uphole developed Herrera sands may be perforated at a later date.
  • Facility tie-in equipment has been procured and is in Trinidad.
  • Tie-in to the Central block natural gas processing facility is targeted for the first quarter of 2026.
• Future Potential: Results support the potential for up to three additional Herrera development wells on the Central block.

Notable Quotes

• Paul R. Baay, President and CEO: "The CR-3 well is our inaugural development well on the Central block and the first well drilled on the field in over 17 years... The well has confirmed both the seismic model and the areal extent of a thick Herrera section. These results are encouraging and support the potential for three additional Herrera wells on the block."
• Paul R. Baay, President and CEO: "We look forward to tying CR-3 into our Central block facility in the quarter to enhance our natural gas sales volumes and realized pricing under our two liquefied natural gas marketing arrangements."