Touchstone Exploration Reports 2024 Year-End Reserves

Touchstone Exploration Inc. presented its 2024 year-end reserves, highlighted by a comprehensive evaluation conducted by GLJ Ltd. The assessments, focused on Trinidad assets, emphasized potential growth through strategic reserves management. The net present value of 2P reserves is appraised at approximately $671 million before tax.

The evaluation underscores the emerging potential of the Cascadura-3ST1 discovery, despite noting a reduction in natural gas reserves at other sites. Production growth is supported by developments like the Cascadura C pipeline expansion, propelling Touchstone's transformation towards predictable production.

Operational advancements include drilling and production initiation of wells at CO-1 block, and infrastructure readiness for cost-effective future development. However, reserve estimates saw declines; gross 1P reserves dropped 14% to 29,070 Mboe, while 2P reserves fell 26% from 2023.