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NOTICE OF PRE-COMMISSIONING AND COMMISSIONING OF COHO FACILITY AND PIPELINE

CALGARY, ALBERTA (August 3, 2022) - Touchstone Exploration Inc. ("Touchstone", "we", "our", "us" or the "Company") (TSX, LSE: TXP) announces that the Company has summitted a notice to residents in the community that the Coho gas facility and pipeline will commence pre-commissioning and commissioning operations. Pursuant to the Coho Certification of Environmental Clearance, residential notification is required to be made a minimum of five business days prior to the commencement of operations. The Coho area is located in the Ortoire block, where Touchstone has an 80 percent operating working interest and Heritage Petroleum Company Limited holds the remaining 20 percent working interest.

The pre-commissioning of the gas facility and pipeline consists of testing all electronics, alarms, and operating systems in the facility, testing of the flare and emergency shutdown systems, as well as purging air from the system using inert nitrogen gas. Subsequent to these operations, system commissioning operations will commence, which entails the introduction of natural gas from the Coho-1 well into the facility and pipeline in a step rate manner, officially bringing the system onstream to the Central block natural gas facility.

Coho-1 will commence production following completion of the commissioning and pipeline handover process, with the expectation that production will increase over time to 10 MMcf/d (1,667 boe/d) gross, 8 MMcf/d (1,333 boe/d) net. Touchstone will provide further information once production is optimized through the system.

Paul Baay, President and Chief Executive Officer, commented:
"The completion of the Coho facility and pipeline will be a significant milestone for Touchstone, as it will represent our first natural gas production and is expected to double our current production on a boe basis. Throughout this process we have encountered challenges that have provided us valuable knowledge to streamline the construction of the Cascadura facility. During the pre-commissioning and commissioning process, we will need to balance the system with the well, pipeline and Central block facility. We will keep all stakeholders informed of our progress, and I would personally like to thank our shareholders for their continued patience as we proceed to full commercial production."
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11.10.2022 kl 20:02 261

TOUCHSTONE ANNOUNCES FIRST NATURAL GAS PRODUCTION FROM COHO
10/11/2022 | 08:26am EDT

CALGARY, ALBERTA - Touchstone Exploration Inc. ('Touchstone', 'we', 'our', 'us' or the 'Company') (TSX, LSE: TXP) is pleased to announce that the Coho facility has safely delivered first natural gas, representing the first onshore natural gas project to come onstream in Trinidad and Tobago in over twenty years. The Coho area is located in the Ortoire block, where Touchstone has an 80 percent operating working interest and Heritage Petroleum Company Limited holds the remaining 20 percent working interest.

On September 26, 2022, the Coho facility was approved by the Certified Verification Agent with the Trinidad and Tobago Ministry of Energy and Energy Industries promptly authorizing facility commissioning. On September 27, 2022, we commenced commissioning and achieved commercial deliveries on October 10, 2022, with a field estimated sustained gross production rate of approximately 10.5 million cubic feet per day (approximately 8.4 million cubic feet per day net). We will continue to monitor the Coho-1 well in an effort to optimize production. In conjunction with initial production, we have sold the 2.7-kilometre, 6-inch gathering line tying in our Coho facility to the Baraka natural gas facility to The National Gas Company of Trinidad and Tobago Limited ('NGC'). Natural gas production from the Coho facility will be sold to NGC pursuant to a natural gas sales agreement executed in December 2020.

Paul Baay, President and Chief Executive Officer, commented: 'This is very exciting for the Company, as Coho production represents the first stage of diversifying our product mix in Trinidad. The Coho facility is capable of 24 million cubic feet of gross natural gas per day, giving us the ability to potentially add incremental production volumes through a combination of additional drilling and well optimization. I would also like to recognize the collective contributions of our team in making this project a success. Being the first onshore gas project in over twenty years, we have learnt from the process, which we expect will provide a strong foundation for continuous improvement as we proceed with our larger Cascadura project.'

Touchstone Exploration Inc.