Touchstone Exploration Announces Carapal Ridge-3 Drilling Results

Executive Summary

• Touchstone announced the first development well (CR‑3) drilled into the Carapal Ridge pool in 17 years, intersecting ~1,000 ft of net Herrera sand and confirming a thick hydrocarbon‑bearing pay zone.
• Completion work is underway with tie‑in to the Central block gas processing facility targeted for Q1 2026; the well supports up to three additional Herrera development wells on the block.
• A second, gas‑charged prospect in the Karamat formation was identified and is being evaluated as a stand‑alone future drill target.

Key Details

• Well Overview: CR‑3 spudded 23 Nov 2025, drilled to 8,200 ft over 35 days using Star Valley Drilling Rig #205; total cost ~25 % over budget due to gas control challenges in Karamat sands.
• Net Sand Intercepts:
• Herrera interval – 635 ft net sand (6,930‑7,770 ft) above shale marker; 365 ft net sand (7,770‑8,200 ft) below marker.
• Karamat formation – 82 ft net sand (6,530‑6,760 ft).
• Horizontal Section: Approximately 341 ft drilled horizontally into unproduced Herrera sands, enhancing reservoir exposure.
• Production Plan: Initial production to target undeveloped lower horizontal Herrera sands; upper developed Herrera sands may be perforated later.
• Facility Tie‑In: Procurement of tie‑in equipment completed; connection to Central block natural gas processing facility expected in Q1 2026.
• Future Development Potential: Results validate seismic model and extent of Herrera reservoir, supporting up to three additional Herrera wells on the Central block.
• Karamat Prospect: Identified as a second gas‑charged play at ~6,700 ft; under evaluation for stand‑alone drilling.

Notable Quotes

“The CR‑3 well is our inaugural development well on the Central block… The results are encouraging and support the potential for three additional Herrera wells on the block.” – Paul R. Baay, President & CEO

All forward‑looking statements are subject to risks and uncertainties as described in the release.