producer in Trinidad October 2018 Follow Us LSE / TSX: TXP 1 Tou - PowerPoint PPT Presentation

“We will be the largest and most profitable onshore producer in Trinidad” October 2018 Follow Us LSE / TSX: TXP 1

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; crude oil production levels; the quantity of the Company’s reserves; drilling and recompletion plans and the anticipated timing thereof; future capital and exploration 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; and the Company's future sources of liquidity. 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.

Ca Calg lgary Ba Based ed E&P Oper erating in in Tri rinid idad 3 Established in 2010 with 135 bbls/d of oil production Grown through acquisitions and drilling to approx. 2,015 bbls/d (100% oil) (1) Dually Listed on Toronto (TSX) and London (AIM) under the trading symbol TXP Market capitalization of $45,158M (2) Funds flow from operations of $5,859M in H1 2018 0

Exec ecutiv ive Management Tea eam & Boa Board of of Dir Directors 4 Paul R. Baay, ICD.D, President and Chief Executive Officer 25+ years of experience leading oil and gas exploration and production companies. Proven track record of building small cap E&P companies. Founded True Energy and increased production between 2000 and 2007 from 350 boepd to 20,000 boepd. True Energy then split into Bellatrix Exploration Inc. and Vero Energy Inc. Subsequently Vero sold to TORC Oil and Gas Ltd. for $200 million in 2012. CEO of Touchstone since 2010, increasing the number of drilling locations at Touchstone from 5 to 208, and overseeing a rise in production from 143 bbls/d to c. 1,750 bbls/d. Scott Budau, CPA, CA, Chief Financial Officer Joined Touchstone in 2011 and was appointed Chief Financial Officer the following year. Corporate Accountant at Cathedral Energy Services Ltd. from 2009 to 2011. Mr. Budau is a professional chartered accountant with over 15 years of experience in accounting, finance and taxation. James Shipka, B.Sc, Chief Operating Officer A geologist with 30 years of energy industry experience in exploration and development geology. Prior to joining Touchstone in 2011, he was Asset Team Manager at Daylight Energy Ltd. where he coordinated a 24,500 boepd business unit in West Central Alberta, Canada. Successfully grown both mature conventional and unconventional resource-play type assets through the application of emerging drilling and completion technologies and enhanced oil recovery strategies. Non-Executive Directors John D. Wright, P.Eng, CFA (Chairman) Kenneth R. McKinnon, Q.C., ICD.D Dr. Harrie Vredenburg, PhD, ICD.D Thomas E. Valentine Stanley Smith, CPA, CA, ICD.D Peter Nicol, BSc.

Bu Busin ines ess Str trateg egy 5 Growth Scalable Economic Growth Exploration Upside Value Creation 19 onshore blocks, 10 Explore new opportunities Cash flow positive with a producing blocks and over that if successful could strong balance sheet to 200 defined drilling represent step changes for the support our current locations (1) Company capital program

Foc ocused Ca Capital l Allo llocation 6 Trinidad People and Culture Exclusively Focused on Trinidad We moved to 100% local content by flattening the 100% of the Company’s oil and gas assets and organization and promoting internal talent capital allocation are targeted in Trinidad 78 employees in Trinidad 10 Producing blocks 14 employees in Canada Over 200 Drilling locations (1) Enhancing our social licence to operate Approx. 63,000 working interest acres Focused Operations Capital Diversity Focused on projects in Trinidad to grow production while Dual listed on the TSX and AIM providing liquidity and reducing operating costs access to capital Increased per barrel operating netback by 92% (2) June 2017: Listed on AIM, £1,450M, 7.25p/Sh Reduced 2018 per foot drilling costs by 36% (3) Dec. 2017: Raised £2,965M on AIM, 11.50p/Sh Drilled 10 wells of the 2018 drilling program Current share price of 20.30p (Oct. 22/18)

Q2 2018 Fin inancia ial Pos osit ition 7 Capital Structure Q2 2018 YE 2017 YE 2016 Common shares outstanding 129,021,428 129,021,428 83,137,143 Market capitalization ($000’s) (1) 36,126 29,030 12,055 Cash ($000’s) 10,556 13,920 8,433 Working capital ($000’s) (2)(3) 3,734 6,808 846 Credit facility principal balance ($000’s) 15,000 15,000 15,000 Net debt ($000’s) (3)(4) 11,266 8,192 14,154 Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Petroleum revenue ($000’s) 12,508 7,436 22,892 14,827 Operating netback ($/bbl) (3)(5) 38.19 19.88 35.99 21.72 Funds flow from operations ($000’s) 3,258 438 5,859 831 Net loss ($000’s) 692 1,848 567 3,397 Net loss – $ per basic and diluted share 0.01 0.02 0.01 0.04 Capital expenditures ($000’s) 4,954 5,460 8,803 6,194

Oper erati ting g Netb tback 8 Operating netback ($/bbl) $45 38.19 $40 33.53 $35 $30 24.46 22.14 $25 19.88 $20 $15 $10 $5 $- Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Sales (bbls/day) 1,334 1,437 1,448 1,543 1,717 Petroleum sales ($/bbl) 61.26 59.64 69.88 74.76 80.04 Royalties ($/bbl) (16.03) (14.59) (20.16) (21.27) (22.59) Operating costs ($/bbl) (25.35) (20.59) (27.58) (19.96) (19.26) Operating netback ($/bbl) (1)(2) 19.88 24.46 22.14 33.53 38.19

Stoc ock Perf erformance: AIM IM 9 Touchstone vs. AIM Source: GMP FirstEnergy