Our goal is to become the largest and most profitable onshore - PowerPoint PPT Presentation

“ Our goal is to become the largest and most profitable onshore producer in Trinidad” March 26, 2018 Follow Us LSE / TSX: TXP

Tou ouchstone Exp xploration In Inc. c. 2 Forward-looking Information Certain information regarding Touchstone set forth in this presentation, including assessments by the Company’s Management of the Company’s plans and future operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and other similar expressions. Statements relating to “reserves” and “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and can be profitably produced in the future. Such statements represent the Company’s internal projections, estimates or beliefs concerning future growth, results of operations based on information currently available to the Company based on assumptions that are subject to change and are beyond the Company’s control, such as: production rates and production decline rates, the magnitude of and ability to recover oil and gas reserves, plans for and results of drilling activity, well abandonment costs, the ability to secure necessary personnel, equipment, production licenses and services, environmental matters, future commodity prices, changes to prevailing regulatory, royalty, tax and environmental laws and regulations, the impact of competition, future capital and other expenditures (including the amount, nature and sources of funding thereof), future financing sources and business prospects and opportunities, among other things. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements and information involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements or information and, accordingly, should not be read as guarantees of future performance or results. In particular, forward-looking statements contained in this presentation may include, but are not limited to, statements with respect to: the Company's operational strategy, including targeted jurisdictions and technologies used to execute its strategy; the Company’s future dividend policy; crude oil production levels; the quantity of the Company’s reserves; drilling and recompletion plans and the anticipated timing thereof; future capital expenditures, the timing thereof and the method of funding; activities to be undertaken in various areas and timing thereof; treatment under governmental regulatory regimes and tax laws; the Company's future sources of liquidity; the Company’s future compliance with its term loan covenants; and estimated amounts for the Company's decommissioning obligations. Actual results, performance or achievement could differ materially from that expressed in, or implied by any forward-looking statements or information in this presentation, and accordingly, investors should not place undue reliance on any such forward-looking statements or information. Further, any forward-looking statement or information speaks only as of the date on which such statement is made, and Touchstone undertakes no obligation to update any forward-looking statements or information to reflect information, events, results, circumstances or otherwise after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws. All forward-looking statements and information contained in this presentation are qualified by such cautionary statements. New factors emerge from time to time, and it is not possible for Management to predict all of such factors and to assess in advance the impact of each such factor on Touchstone's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Co Corporate Snapshot – De December 31 2016 and 2017 3 Capital Structure 2016 2017 Common shares outstanding 83,137,143 129,021,428 Market capitalization ($000’s) (1) 12,055 29,030 Cash ($000’s) 8,433 13,920 Working capital ($000’s) (2)(3) 846 6,808 Credit facility principal balance ($000’s) 15,000 15,000 Reserves (2) 2016 2017 2P Reserves (Mbbl) 15,698 18,535 2P NPV (10% Discount, After Tax) ($000’s) 130,740 156,698 2P Reserve Life Index (years) 24.0 20.2 2P F&D costs per bbl – Including FDC (4) 6.00 6.33 Operations 2016 2017 Production (bbls/d) 1,301 1,375 Wells drilled - 4 Recompletions 11 20 Capital expenditures ($000’s) 3,881 9,378

Why In Inves est t In In Tou ouchstone? 4 Operating cash flow positive in 2017: $3.1 million ($0.03 per basic share) Operating netback of $22.14 per barrel (1)(2) Year over year reserve growth; 2P reserves increased by 18% in 2017 (3) Focused solely onshore Trinidad Largest independent onshore land owner 11 producing blocks 208 drilling locations (4) Commenced 2018 operations program forecasting 10 new wells and 24 recompletions (5) Significant exploration opportunity on Ortoire licence Strive to be the leader in minimizing environmental impacts Proud supporter of charities within the communities we operate

Organic ic Production Growth via via Dr Dril illi ling and Rec ecomple letions 5 One of the largest onshore independent oil producers in Trinidad with 11 producing properties 2017 average production of 1,375 bbls/d Current field estimated production ~1,654 bbls/d (March 25, 2018 month to date) Touchstone Corporate Production 1,800 January 1, 2016 through March 25, 2018 1,600 1,400 Crude Oil Production (bbls/d) 1,200 1,000 800 600 400 200 0 Swab Oil Base Production Recompletions New Drills (2017) New Drills (2018)

Our r Approach 6 Touchstone Exploration is focused on maximizing crude oil recovery and returns through drilling, well optimization, and enhanced oil recovery Technology and new ways of thinking are the significant Corbis, Fyzabad, ca. 1950’s value creators “Our business is not dependant on finding oil… we know the oil is there.” Touchstone, WD-4, 2017

2017 Hig Highlig ights 7 Production averaged 1,375 bbls/d, a 6% increase from 2016 annual average production of 1,301 bbls/d. Achieved operating netback prior to derivatives of $22.56 per barrel, an increase of 50% from the $15.08 per barrel generated in 2016. Generated funds flow from operations of $3,110,000 ($0.03 per basic share) compared to $6,117,000 ($0.07 per basic share) realized in 2016. Recorded a net loss of $947,000 ($0.01 per basic share) versus a net loss of $12,853,000 ($0.15 per basic share) in 2016. Executed a $9,378,000 exploration and development program to drill four successful wells and perform 20 recompletions. Reduced the Company’s former cash collateralized US$6,000,000 letter of credit related to its East Brighton exploration property to US$2,150,000. Raised net proceeds of $5,329,000 from two private placements completed during the year. Exited 2017 with cash of $13,920,000 and reduced net debt by 42% from 2016 to $8,192,000. Q1 2017 (1) Q2 2017 (1) Q3 2017 (1) Q4 2017 (1) 2017 (1) Sales (bbls/day) 1,280 1,334 1,437 1,448 1,375 Petroleum sales ($/bbl) 64.16 61.26 59.64 69.88 63.79 Royalties ($/bbl) (21.04) (16.01) (14.59) (20.16) (17.89) Operating costs ($/bbl) (19.46) (25.36) (20.59) (27.58) (23.34) Operating netback ($/bbl) (1)(2) 23.66 19.89 24.46 22.14 22.56

Res eserves es Growth (1) 8 Seven Consecutive Years of Positive Reserves Growth October 1, 2010 (2) December 31, 2016 (3) December 31, 2017 (4) Reserves Volumes (bbls) Total Proved (1P) 960,700 8,977,000 10,733,000 Total Proved + Probable (2P) 1,930,600 15,698,000 18,535,000 Total Proved + Probable + Possible (3P) 3P not evaluated 20,376,000 24,456,000 Reserves Values ($) (Net Present Value, 10% Discount, After Tax) Total Proved (1P) 8,317,000 72,668,000 83,484,000 Total Proved + Probable (2P) 17,593,000 130,740,000 156,698,000 Total Proved + Probable + Possible (3P) 3P not evaluated 169,073,000 207,027,000 30,000 25,000 20,000 Mbbls 15,000 10,000 5,000 0 2010 2011 2012 2013 2014 2015 2016 2017 Proved Probable Possible