Touchstone Exploration Provides Update on Trinidad's Central Block

Touchstone Exploration Inc. has issued an operational update regarding the Central Block asset in Trinidad and Tobago. Following the acquisition of Shell Trinidad Central Block Limited on May 16, 2025, Touchstone now holds a 65% operating interest in the Central Block, with the remainder owned by Heritage Petroleum.

In the first quarter of 2025, gross production at Central Block averaged 2,969 boe/d, while preliminary estimates for the second quarter put it slightly higher at 3,023 boe/d. The production primarily comprises natural gas and NGLs.

The Central Block's natural gas is sold under two contracts—one linked to LNG export pricing and another for the domestic market, mainly serving Trinidad's petrochemical industry. LNG sales through April 2025 totaled 2,207,696 MMBtu, contributing significantly to $9.9 million in gross revenue, with plant gate prices averaging $4.00 and $4.33 per MMBtu for LNG and domestic sales, respectively.

Development work is ongoing, with site surveys completed for additional well pads pending government approval. CEO Paul Baay emphasized the strategic value of integrating LNG pricing in their portfolio, anticipating predictable cash flows and flexible revenue streams.