Touchstone Exploration Announces 2025 Year-End Reserves

Executive Summary

• Touchstone Exploration released its independent 2025 year‑end reserves report, showing a 45% increase in proved developed producing (PDP) reserves to 9,933 Mboe and a modest rise in after‑tax NPV10 of PDP reserves to $89 million (+34%).
• The company completed the acquisition of a 65 % working interest in the Central block (adding LNG‑linked gas and oil reserves) and disposed of its non‑core Fyzabad property, materially reshaping the asset base.
• Production averaged 4,686 boe/d in 2025 (Q4 up to 4,877 boe/d) with new gas/oil output from Cascadura‑5 and operational enhancements at Central block driving a ~20% production uplift.

Key Details

• Reserves Overview (Dec 31 2025):
• PDP: 9,933 Mboe (+45% YoY)
• 1P: 27,559 Mboe (‑5%)
• 2P: 49,558 Mboe (‑1%)
• NPV10 (before tax):
• PDP: $107 million (+35%)
• 1P: $336 million (‑5%)
• 2P: $653 million (‑3%)
• After‑tax NPV10:
• PDP: $89 million (+34%)
• 1P: $183 million (+2%)
• 2P: $315 million (+2%)
• Reserve Life Index: 13.3 years (1P) and 23.2 years (2P).
• Acquisition: 65 % interest in Central block, effective May 16 2025 – added LNG‑linked gas production and significant reserves.
• Disposition: Sale of non‑core Fyzabad property (Dec 1 2025) in exchange for three turnkey drilling wells on WD‑8/WD‑4 blocks.
• Operational Highlights 2025:
• Cascadura‑5 brought onstream – 1.9 MMcf/d gas and 46 bbl/d oil (~362 boe/d).
• Central block plant optimization → ~20% production increase over acquired baseline.
• Carapal Ridge‑3 drilled first new well in Central block in 17 years, intersecting ~1,000 ft net Herrera sand pay; tie‑in slated for late March 2026.
• Future Capital:
• FDC (future development costs) – 1P $114.7 M / 2P $202.1 M undiscounted (2026‑2030).
• Forecast pricing assumptions provided for Brent, Henry Hub, NBP, JKM through 2035.
• Production Figures:
• Annual average 2025: 4,686 boe/d (Q4 4,877 boe/d).
• Q4 product mix – 1,039 bbl/d light/medium oil, 20,805 Mcf/d gas.

Notable Quotes

• Paul Baay, President & CEO: “Our year‑end reserves report highlights the strategic integration of the Central block into our producing reserve base… The NPV10 of future net revenues for our 2P reserves increased modestly despite a slight decline in total volumes, underscoring the value of our Trinidadian portfolio.”

Materiality: Material – Positive (significant reserve additions, acquisition impact, and production uplift).