What Touchstone Exploration does

Touchstone Exploration Inc. is the largest independent onshore oil and gas exploration, development, and production company in Trinidad and Tobago. Founded in 2010 (rebranded from Petrobank Energy and Resources Ltd.) and headquartered in Calgary, Alberta, the company operates a 148,683 net acre onshore Trinidad portfolio comprising 4,061 net acres of developed crude oil acreage, 7,310 net acres of developed natural gas acreage, and 137,312 net acres of exploration acreage. Core production in 2025 averaged 4,686 boe/d (1,064 bbl/d crude oil and 3,622 boe/d natural gas), drawn from five southern Trinidad development blocks and the Ortoire block where Touchstone holds an 80% operating working interest alongside state-owned Heritage Petroleum Company Limited (20%).

The company's flagship technical asset is the Cascadura natural gas and liquids processing facility (designed for 200 MMcf/d of natural gas and 5,000 bbls/d of liquids), complemented by specialized expertise in the Herrera Formation's exceptionally thick (300-500 feet) turbidite reservoirs versus the regional norm of 100-150 feet. In May 2025, Touchstone completed the acquisition of Shell Trinidad Central Block Limited, adding approximately 2,095 boe/d and global LNG market exposure under deliver-or-pay contracts. The company produces 2P reserves of 49,558 Mboe (before-tax NPV10 of $653M per GLJ Ltd.).

The business model is upstream commodity sales: crude oil is sold directly to Trinidad refineries, and natural gas is sold to domestic distribution networks, industrial consumers, and LNG export facilities (Atlantic LNG and others), with fixed-price gas contracts providing some revenue predictability. The portfolio is approximately 71% gas-weighted. Capital structure features significant shareholders Purebond Limited (~19.99%), JJR Wood Holdings (expected ~19.78% post-conversion), and Edale Capital (~5.47%), with multiple equity and convertible debt raises across 2025-2026 supporting the ongoing capital program. FY2025 revenue was $45.82M (down 20% YoY) with funds flow from operations of $5.37M, a $15.4M working capital deficit, and a going concern note with projected covenant breaches as of December 31, 2026.

Name

Touchstone Exploration

Legal name

Touchstone Exploration Inc.

Website

https://touchstoneexploration.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Touchstone Exploration is the largest independent onshore oil and gas producer in Trinidad and Tobago, holding 148,683 net acres and producing 4,686 boe/d in 2025 from crude oil and natural gas assets, including the Cascadura gas facility and the recently acquired Shell Central Block.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Oil and Gas Extraction (2111), Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)

akta.pro secondary industries

Exploration, Appraisal & Subsurface (Seismic, Geology, Reservoir Characterization) (EUAAAAAH), Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

Keywords

• Upstream oil and gas
• Crude oil production
• Natural gas production
• Exploration and development
• Onshore energy Trinidad

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Crude Oil Sales: Revenue generated from production and sale of crude oil from developed crude oil assets in southern Trinidad. Net average daily production of 1,064 bbl/d in 2025 from legacy assets with 100% working interest across 4,061 net acres.
2. Natural Gas and LNG Sales: Revenue from natural gas production and sales, including LNG contracts. Central block acquisition in May 2025 added LNG exposure. January-February 2026 average net sales volumes of 4,778 boe/d, with deliver-or-pay contracts for LNG sales commitments.
3. Fixed-Price Gas Contracts: Fixed-price gas contracts providing stable funding for future capital projects, offering revenue predictability.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Touchstone Exploration is an upstream oil and gas company engaged in the exploration, development, and production of crude oil and natural gas from onshore acreage in Trinidad and Tobago. The company produces approximately 1,064 bbl/d of crude oil from legacy Southern Basin assets and 3,622 boe/d of natural gas from the Ortoire block and Central block, supported by the Cascadura processing facility. Its portfolio spans 148,683 net acres across exploration, development, and production properties targeting the Herrera, Cretaceous, and Nariva formations.

Product overview

Touchstone Exploration is an oil and gas exploration, development, and production company operating as the largest independent onshore producer in Trinidad. The company operates across three main product lines: Crude Oil Production from established legacy assets delivering approximately 1,064 bbl/d; Natural Gas Production from the Ortoire block and Central block (acquired from Shell in May 2025) providing approximately 3,622 boe/d; and Exploration Services across a 137,312-acre exploration portfolio targeting Herrera, Cretaceous, and Nariva formations. The company also announced plans to introduce fracture stimulation services in 2026. These offerings are integrated through Touchstone's owned infrastructure including the Cascadura natural gas processing facility designed for 200 MMcf/d of natural gas and 5,000 bbls/d of liquids production.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production Crude oil produced from developed acreage across five development blocks in southern Trinidad's Southern Basin (4,061 net developed acres), with average daily production of approximately 1,064 bbl/d sold directly to domestic refineries and petroleum buyers. The company holds 100% working interest across these legacy assets.
• Natural Gas Production Natural gas produced from the Ortoire block and Central block across 7,310 net developed acres, with average daily production of approximately 3,622 boe/d, including output from the Cascadura field and a purpose-built processing facility designed for 200 MMcf/d of natural gas and 5,000 bbls/d of liquids. Gas is sold to domestic distribution networks, industrial consumers, and LNG export facilities under fixed-price and deliver-or-pay contracts.
• Exploration Services Oil and gas exploration across Touchstone's portfolio of exploration blocks including Ortoire, Cipero, Charuma, and Rio Claro, totaling 137,312 working interest acres of exploration opportunities targeting the Herrera, Cretaceous, and Nariva formations. Includes the Coho-1, Cascadura-1ST1, and Cascadura Deep-1 discoveries.
• Fracture Stimulation Services Planned fracture stimulation operations in 2026 at onshore blocks in Trinidad targeting low permeability reservoirs, utilizing locally available equipment with each frack job estimated to cost between US$500,000 and US$1 million.

Quantifiable outcome

• 49,558 Mboe of gross 2P reserves with $653 million before-tax NPV10
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Heritage Petroleum Company LimitedcoreStrategic or Co-development PartnerState-owned Heritage Petroleum Company Limited is Touchstone's partner in the Ortoire block where Touchstone holds an 80% operating working interest. Heritage holds the remaining 20% working interest as the state-owned petroleum company of Trinidad and Tobago. This partnership provides access to prime exploration acreage in the Herrera Formation fairway.
• GLJ Ltd.minorOthersGLJ Ltd. serves as Touchstone Exploration's independent reserve engineer, providing annual independent reserves evaluations as required for regulatory filings and shareholder reporting.
• Ernst & Young LLPminorOthersErnst & Young LLP serves as Touchstone Exploration's external auditor, providing independent audit services for financial statements and regulatory compliance.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Range Resources Limited: ASX/AIM-listed small-cap independent E&P whose core production comes from onshore Trinidad, mirroring Touchstone's onshore Trinidad acreage-focused strategy, single-country concentration and small-mid scale operations.
• EnQuest PLC: LSE-listed small-mid cap E&P focused on UK North Sea and Malaysia with similar capital-intensity, working-capital sensitivity, and reliance on operational execution to bridge from declining legacy production to newer developments.
• Eco (Atlantic) Oil and Gas Ltd. AIM/TSX-V-listed small-cap exploration-stage E&P; a board member of Touchstone also sits on Eco Atlantic's board and both companies share the profile of small, AIM-listed hydrocarbon developers pursuing high-impact exploration wells.
• Heritage Petroleum Company Limited: Trinidad and Tobago's state-owned onshore and offshore E&P operator; Touchstone's 20% partner in the Ortoire block but also an overlapping domestic producer of crude oil and natural gas, competing for the same Trinidad infrastructure and buyers.
• Gran Tierra Energy Inc. NYSE/TSX-listed small-mid cap E&P focused exclusively on onshore Latin American production and exploration (Colombia and Ecuador), with a comparable revenue base, single-region focus and growth-via-appraisal strategy.
• Alvopetro Energy Ltd. TSX Venture-listed small-cap natural gas producer with similar production scale (~thousands of boe/d), fixed-price/offtake contracts and a single-asset geographic focus (Bahia, Brazil), making it a tight comparable on size, gas-weighting and contract structure.
• Predator Oil & Gas Holdings plc: AIM-listed micro-cap E&P with comparable market cap, similar single-country/permit focus, and reliance on periodic equity raises to fund appraisal and development activity.

Broad incumbents

• BP p.l.c. Global supermajor and historical Trinidad upstream participant through BP Trinidad & Tobago; remains a relevant incumbent comparable because its Atlantic LNG offtake contracts and Trinidad infrastructure underpin the regional LNG ecosystem that Touchstone's Central Block feeds into.
• EOG Resources, Inc. Major US independent E&P with material Trinidad exploration and production interests (including assets acquired from BP Trinidad & Tobago), serving as the dominant incumbent competing for Trinidad acreage, LNG feedgas and technical talent.
• Vermilion Energy Inc. TSX/NYSE-listed mid-cap international E&P headquartered in Calgary (Touchstone's corporate HQ city) with a diversified multi-country portfolio including the Wandoo offshore Australia asset; provides a relevant incumbent benchmark for capital allocation and gas-weighted producer economics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TouchstoneExp
• Facebookfacebook.com/TouchstoneExploration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds12 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Touchstone Exploration