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Q4 2014 Earnings Call – Touchstone Exploration Inc.

Touchstone Exploration Inc. · Apr 23, 2014 · 38 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 1
    TSX: TXP Touchstone Exploration Inc. is a publically traded Canadian company with production and assets in Trinidad and Tobago and Canada. As an early adopter of proven technologies, we focus on developing plays with large oil in place…
  2. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 2
    Corporate Strategy 3 TSX: TXP 1 Billion Barrels Touchstone is focused on oil exploration and development in low OOIP(1) risk environments with world class hydrocarbon accumulations. The Company has operations in Trinidad and…
  3. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 3
    Corporate Overview - December 31, 2014 4 Canada TSX: TXP Trinidad & Tobago 83.1 million 2,270 bbls per day (3) Common shares Issued and outstanding Total Corporate production (Q4 2014) 26.2 million (1) 174.6 million (4)…
  4. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 4
    2014 Corporate Highlights 5 Completed acquisition of Touchstone Energy Inc. (TSX-V: TAB) on May 13, 2014 TSX: TXP Acquired interest in 19.5 (12.0 net) sections of Viking land in Beadle, Saskatchewan Contributed 1,094 Mboe in…
  5. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 5
    2014 Financial Results 6 Corporate Trinidad Canada(1) Weighted TSX: TXP Average Average production (bbls/d) 1,146 404 1,550 In Trinidad: Petroleum sales (/bbl) 89.93 69.64 86.99 Achieved operating netbacks of Realized gain on…
  6. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 6
    Corporate Growth - Evidence of Execution 7 2,500 Pro-forma Production TSX: TXP Trinidad Oil Production (bbls/d) Canadian Production (bbls/d) 2,000 Oil Production (bbls/d) 1,500 1,000 Hedged Production…
  7. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 7
    Trinidad Reserves(1) 8 Trinidad 2P Reserves (bbls) TSX: TXP 8.23/bbl 2P Trinidad FD&A cost (Incl. FDC)(2) bbls 2.95x bbls 2P Trinidad recycle ratio(3) 12.2 & 19.0 years bbls TP & 2P Reserve life index(4) 883%…
  8. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 8
    Canada Reserves(1) 9 Canadian 2P Reserves (boe) TSX: TXP 97% Oil Weighting Boe 50% Ratio of TP to 2P Reserves Boe Boe 10.2 & 14.5 years TP & 2P Reserve life index(2) 1,169% Production replacement ratio (2P)(3)…
  9. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 9
    Asset Overview 10 TSX: TXP Trinidad Canada 1,896 bbls/d 374 bbls/d (1) Production Production 136 million 38.6 million 2P NPV10 (After Tax)(2) 2P NPV-10 (After Tax)(2) Oil & Gas Operations Expertise & Technology 163…
  10. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 10
    Why Trinidad 11 TSX: TXP We are not in the business of finding oil we know the oil is there. Technology is a significant value creator Touchstone Exploration is focused on maximizing recovery and returns through drilling,…
  11. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 11
    Trinidad Assets: Multi Zone Stacked Pliocene Reservoirs 12 Increasing the Recovery Factor (RF) by only 2% yields 22 million barrels of recoverable oil on key TSX: TXP Billion barrels properties (2) 1.0 OOIP(1) Step 1: Infill…
  12. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 12
    Trinidad Assets 13 Focused on low risk development 95,358 Gross acres TSX: TXP Substantial recompletion inventory Shallow…
  13. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 13
    COORA 1 & 2 Blocks 14 Coora SAMPLE WELL CO-363 (2012) Lease Operatorship Agreement Average Daily Oil Production Wireline Log TSX: TXP 100% Working Interest 160 140 120 100 Bbls/d 80 60 40 20 0 1,699 acres 1…
  14. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 14
    WD-4 Block 15 Production (2014 Wells) WD-4 Lease Operatorship Agreement IP 3 month: 90 bbls/d TSX: TXP 100% Working Interest EUR (2P) 115 mbbls Cost per well (DCC&E): 1.8 mm WD-4 BLOCK Gross Reserves(1) Total Proved 2,256…
  15. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 15
    Fyzabad Block 16 Fyzabad Freehold and Crown Lease 100% Working Interest TSX: TXP bbls/day 250 Current Production 1,219 mbbls (net) (1) Total 2P Reserves Locations 21 Identified 12 Locations 804 acres Booked (2P)…
  16. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 16
    Ortoire Block Exploration Prospect 17 Exploration Licence signed 35,785 Net Acres TSX: TXP October 31, 2014 80% working interest partnership with Petrotrin US11 MM Work Commitment Phase 1 (2014/15) US250M Geologic…
  17. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 17
    East Brighton Offshore Block 18 Two 3D Seismic data sets 1996 42 km2 14,256 Net Acres TSX: TXP 2009 113 km2 70% working interest 2015-2016 Work Commitments 25 Year License Term 3D Seismic Review 413 mbbls Original Oil In…
  18. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 18
    Canadian Assets 19 Saskatchewan Focused on Viking Viking 17,824 Net acres TSX: TXP Development at Beadle Total 57,488 Net acres Alberta Divesting of Heavy Oil Interests Dawson 20,160 Net acres Luseland North disposition closed…
  19. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 19
    Saskatchewan Land Holdings 20 Emerging TSX: TXP Luseland Druid Opportunity Druid Kerrobert Mannville Heavy Oil Monetizing interest Viking Development Beadle Beadle Saskatchewan heavy oil production transitioned…
  20. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 20
    Viking Land Base(1) 21 TSX: TXP Touchstone Crescent Point Ish Energy Novus Penn West Raging River Teine Energy Whitecap Corp. Overview Financials Reserves Asset Overview Trinidad Overview Canada Overview…
  21. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 21
    Beadle Viking Land Properties 22 Beadle Viking Single Well (estimated) 1,094 Mboe (Net WI) TSX: TXP (1) IP 3 month: 55 bopd Total 2P Reserves EUR (2P) 8 mbbls Cost per well (DDC&E): 900,000 128 Locations Net WI Reserves(1)…
  22. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 22
    23 TSX: TXP 2015 and BEYOND Managing Through Volatile Oil Prices Corp. Overview Financials Reserves Asset Overview Trinidad Overview Canada Overview Sustainability
  23. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 23
    2015 Corporate Sensitivity Analysis USD Brent Oil Price 24 Netback and Funds Flow Netback TSX: TXP 25.00 0.07 23.02 0.06 21.88 22.16 0.06 20.00 20.96 0.05 0.05 0.05 Funds Flow per Share 0.04 per bbl 15.00…
  24. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 24
    Hedging Strategy 25 How Touchstone is using hedging during uncertain economic times TSX: TXP 04/01/15 90.00 Call 90 Hedged 800 bbls/d at 70.60/bbl, December 5, 2014 November 30, 2015 70 12/05/14 70.60 Floor 11/30/15 Hedged…
  25. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 25
    Focused on Internal Enhancement 26 Gross G&A Per Barrel Management is committed to reducing Corporate (Pro-Forma) TSX: TXP fixed costs. Since the business 30.00 combination in May 2014: 25.00 20.00 General and administrative…
  26. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 26
    Touchstone Opportunity 27 1 Billion Barrels EXPLOITABLE TSX: TXP OOIP (1) Resource Play 1.15/share VALUABLE Total 2P NPV-10 Atax (2) Investment Opportunity 313 REPEATABLE Drilling locations Multi-Year Inventory…
  27. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 27
    Corporate Information 28 Corporate Information Abbreviations TSX: TXP Head Office bbl(s) barrel(s) Suite 1100, 332 6th Ave SW mbbl(s) thousand barrel(s) Calgary, AB T2B 0B2 bbls/d barrels per day Office: (403) 750-4400 Boe…
  28. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 28
    29 TSX: TXP Appendix Corp. Overview Financials Reserves Asset Overview Trinidad Overview Canada Overview Sustainability
  29. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 29
    Corporate Social Responsibility- Appendix 30 TSX: TXP Trinidad & Tobago Active Community Programs In Canada in Trinidad Holiday Drive Over the Christmas holidays Touchstone staff came together to give back to the Community…
  30. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 30
    Trinidad Recovery Factors 31 TSX: TXP Original Oil In Place, Cumulative Production and Recovery Factors(1) Geological Zone WD-8 WD-4 Coora 1&2 Total Morne LEnfer/Coora Original Oil in Place (bbls) Upside Upside 63.0 MM 63.0 MM…
  31. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 31
    Gross Reserves Reconciliation(1) 32 Total 2P Reserves % by Country TSX: TXP CANADA TRINIDAD 17% Proved + Proved + Canada Proved Proved Reconciliation Category Probable Probable (Mboe) (Mboe) (Mboe) (Mboe) December 31, 2013…
  32. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 32
    Trinidad Assets 33 Producing Properties Exploration Properties WD-8 650 Acres Siparia 80 Acres East Brighton 5,310 Acres TSX: TXP WD-4 400 Acres Moruga 3,300 Acres Cory Moruga 1,939 Acres Coora 1 & 2 1,699 Acres Bovallius 976…
  33. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 33
    Trinidad Development Inventory 34 Development & Acres Lease Type Current Total Booked Booked IP Volumes Upside Risked Net Capital Exploration (working wellbores Potential Potential Capital Risked Potential Un-Risked TSX: TXP…
  34. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 34
    Druid Land Acquisition 35 Touchstone Property TSX: TXP 75 82 74 October 6, 2014 Land Sale 81 73 72 71 Caltex Land 80 79 78 77 Druid Land Sale - October 6, 2014 Successful Bids Legal Gross Parcel Lsd-Sec -Twp-Rge-…
  35. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 35
    Endnotes 36 Slide 3 Corporate Strategy (1) Original Oil in Place (OOIP) is based on internal volumetric estimations. TSX: TXP (2) Total proved net present value after tax discounted at 10% based on December 31, 2014 GLJ Petroleum…
  36. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 36
    Endnotes 37 Slide 8 Trinidad Reserves (1) Based on December 31, 2014 GLJ Petroleum Consultants Ltd. independent reserves evaluation. TSX: TXP (2) 2014 Trinidad finding, development and acquisition costs are calculated as follows:…
  37. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 37
    Endnotes 38 Slide 9 Canada Reserves (1) Based on December 31, 2014 GLJ Petroleum Consultants Ltd. independent reserves evaluation. TSX: TXP (2) Reserves life index is a weighted average of all the individual Canadian properties…
  38. Q4 2014 Earnings Call – Touchstone Exploration Inc. – slide 38
    Endnotes 39 Slide 18 East Brighton Offshore Block (1) OOIP is based on internal volumetric estimations. TSX: TXP Slide 21 Viking Land Base (1) Viking land base map is from Accumap on April 1, 2015. Slide 22 Beadle Viking Land…

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