Touchstone Exploration Announces an Operational Update

Core Viewpoint - Touchstone Exploration Inc. has provided an operational update highlighting the successful tie-in of the Carapal Ridge 3 well and increased natural gas throughput in the Central block, alongside ongoing drilling activities and compressor installation plans. Operational Highlights - The Carapal Ridge 3 well was successfully tied into the Central block natural gas facility and brought onstream on March 28, 2026, currently flowing natural gas and condensate [2][9]. - Gross natural gas throughput in the Central block has increased from approximately 16 MMcf/d to 19 MMcf/d, further rising to approximately 21.5 MMcf/d following the startup of CR-3 [3][10]. Production and Sales - Average net sales volumes for January and February 2026 were 4,778 boe/d, consisting of approximately 20.5 MMcf/d of natural gas and 1,357 bbls/d of crude oil and liquids [5][26]. - Realized LNG pricing was $6.74/MMbtu in January and an estimated $3.98/MMbtu in February, with expectations of continued pricing strength due to international market dynamics [11]. Infrastructure Developments - The Cascadura facility booster compressor has completed run testing and is expected to arrive in Trinidad in April 2026, with commissioning targeted for May 2026 [4][12]. - The compressor is designed to mitigate elevated sales pipeline pressures, which currently range from 650 to 750 psi, and is expected to improve production rates and operational stability [13]. Drilling Campaign - The company has commenced a four-well drilling campaign on the WD-8 and WD-4 blocks, with the first well, FR-1835, encountering approximately 290 feet of net pay [14][15]. - The second well, FR-1836, was spud on March 26, 2026, and is currently drilling, with plans to move the rig to the WD-4 block for additional wells later in 2026 [15].