Corporate Presentation

March 2021

Driving growth, profitability and responsibility in the Trinidad energy industry

Our Four Pillar Corporate Vision

Scalable Economic Growth

Exploration Upside

Value Creation

Operating Responsibly

2

Invest in the communities in which we operate

Becoming the leader in Trinidad for environmental excellence

On the Venezuelan Basin with turbidite deposition

Numerous hydrocarbon sources identified on the Ortoire block

10 producing fields with 215 identified drilling locations(1)

~20 year drilling program to sustain organic growth

C$565 million market cap., increase from C$66 million in Dec 2019(2)(3)

Increase in 2020 TSX share price TSX by 434%(4)

Land Holdings

Core Exploration Acreage35,785 net working interest acres

Oil Pool

Gas Pool

Developed Acreage7,836 net working interest acres

N

E

S

W

CAS

Coho

3

Turbidite Deposition and Proto Orinoco Deltaics

Latin American (2016) Concession Map

EASTERN VENEZUELA

BASIN

CONTINENTAL SHELF DEPOSITION

ExxonMobil Stabroek 3D Seismic survey

Gravity Anomaly Map

4

The Ortoire Block - 80% working interest and 35,785 net working interest acres

GASPIPELINE

Balata East10 MMbbls

OILPIPELINE

OILPIPELINE

Oil

Pool

Pipeline

Gas

Discovery

Pool

Pipeline

Well

Facility

Pipeline tie-in

ROYSTONROYSTON-1

CHINOOK

Navette57 MMbbls

Catshill30 MMbbls

Carapal Ridge

Baraka

Baraka

East

Central Block500 Bcf natural gas, 25 MMboe NGLs

Central Block Gas Plantc. 80 MMcf/d Capacityc. 40 MMcf/d Throughput

Pool river Valve Station

Mora Drip Valve Station

N

E

S

W

COHO

COHO-1

CAS-1ST1

CHINOOK-1

CASCADURA

5

Exploration – Ortoire Block

Coho-1Gas Discovery

Cascadura-1ST1Gas Discovery

RoystonGas Prospect

Chinook-1Discovery

105 feetnet pay(5)

Cascadura-DeepDiscovery

1,037 feetnet pay(6)

609 feetnet pay(7)

GASPIPELINE

Balata East10 MMbbls

OILPIPELINE

OILPIPELINE

COHOROYSTON

CAS-1ST1

CASCADURA

ROYSTON-1

CHINOOK-1

CHINOOK

Navette57 MMbblsCatshill

30 MMbbls

Carapal Ridge

Baraka

Baraka

East

COHO-1

Central Block500 Bcf natural gas, 25 MMboe NGLs

Central Block Gas Plantc. 80 MMcf/d Capacityc. 40 MMcf/d Throughput

1,315 feet net pay(8)

7

Constructing

Coho-1Flowback testing(5)

46.0 MMcf/d AOF

11.6 MMcf/d average

100% natural gas

Estimated gross future production rate(5)

10 – 12 MMcf/d

(1,333 – 1,600 boe/d net)

Reserves(9)

1P - 1,184 Mboe

2P - 3,454 Mboe

Current StatusConstruction of pipeline is underway

First Gas Production Estimated - Q2 2021

7

Cascadura-1ST1Flowback testing(6)

Estimated gross future production rates(6)

6,213 – 7,787 boe/d net

(83% natural gas)

Reserves(9)

1P - 23,622 Mboe

2P - 45,030 Mboe

Current StatusWorking with NGC on applications and CEC for pipeline

First Production

Estimated - Q4 2021

Upper test results Lower test results

390 MMcf/d AOF 92 MMcf/d AOF

5,472 boe/d average 5,157 boe/d average

86% natural gas 87% natural gas

8

Chinook-1 Drilled to a total depth of10,039 feet

Wireline logs indicate total net pay of 609 feet(7)

589 feet of net pay in the Herrera sands(7)

20 feet of net payin the shallower Cruse(7)

Current StatusTested two pay zones that encountered light oil

Natural gas zone expected to be tested in March 2021

9

Cascadura Deep-1 Drilled to a total depth of8,303 feet

Wireline logs indicate total net pay of 1,315 feet(8)

1,007 feet of net pay in the overthrust Herrera(8)

308 feet of net payin the intermediate Herrera(8)

Current StatusTesting expected to commence March 2021

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Royston-1 – Natural Gas Prospect

Original well was drilled in 1965.Logs indicated 700 feet of gas effect, but the

well was never tested.

Shell Trinidad LimitedLizard Springs (OL-4)

c. 1965

ROYSTON-1 LOC

P10 Case

P50 Case

P90 Case

Ortoire Synclinal

Basin

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OrtoireProspectivity

➢ Continuation of prolific Penal-Barrackpore Herrera

➢ Numerous anticlinal trends identified

➢ Defined structural features: overthrust, intermediate and subthrust (repeated beds)

➢ Analogous to offsetting production outside of the block

Gas Discoveries

Late Miocene

Mid-Miocene

Cretaceous

Paleocene

Oil Pipelines

Balata East

Carapal

Baraka

BarakaEast

Penal / Barrackpore

Navette

Catshill

Gas Pipelines

Anticlinal Trends

N

5 km

Cascadura

RoystonChinook

Coho

Cedar Grove Fault

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Ortoire Block – The Potential

➢ Executed a natural gas depletion sales agreement with the National Gas Company ofTrinidad and Tobago Limited ("NGC") on December 18, 2020, whereby NGC willpurchase all future natural gas produced on the Ortoire block

➢ 10+ year drilling program

➢ Designing 6 to 8 development well locations at both Chinook and Cascadura(10)

➢ Identified an additional 21 exploration targets on the block(10)

➢ Ensure that local people and communities benefit from the success of the Ortoireblock

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Significant growth opportunity for Touchstone and the Trinidad oil and gas industry

Scalable Economic Growth

215 Drilling locations(1)

“A 20-year crude oil drilling program providing Touchstone with a strong organic growth platform.”

10 Producing fieldsQ3 YTD crude oil production of 1,431 bbls/d

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15

Operating Responsibly➢ 85% of our workforce are from Trinidad

➢ 24% of our workforce are women

➢ 564+ days since an environmental incident

➢ 2020 lost time recordable incident frequency of 0.96

➢ Leading industry's initiative to eliminate surface releaseof produced water

➢ Aiming to capture all solution gas from our wells andsales facilities to sell or use in our operations

➢ Close affiliation with local charities and schools

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Our COVID-19 Response ➢ Implementation of strict workplace health and safety

procedures

➢ Maintaining business continuity with minimal disruptionto our daily operations

➢ Decisive action taken around cost saving initiatives todecrease operating expenses

➢ Continue supporting our local communities by donatingover 460 family food hampers

➢ Donated five laptops to the Rio Claro School and threelaptops to families in the Tableland area

Family Food Hampers

Value Creation

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8,977 10,733 11,222 11,840

34,238

15,698 18,535 19,275

22,056

64,947

20,376 24,456 25,540

29,791

100,150

-

20,000

40,000

60,000

80,000

100,000

120,000

2016 2017 2018 2019 2020

Gross Reserves Summary(11)

(Mboe)

Proved (1P) Proved + Probable (2P) Proved + Probable + Possible (3P)

Mb

oe

1P reserves increased 189% from 2019

2P reserves increased 194% from 2019

3P reserves increased 236% from 2019

Value Creation

9 Month Results 2020 Capital Structure at Feb. 28, 2021

Common Shares Outstanding

209,399,627

Market Capitalization(2)

C$565,378,993

Cash

$7,673,000Working Capital Surplus(12)(14)

$869,000

Term Credit Facility

$20,000,000$7,500,000 drawn

Petroleum Sales

$15,178,000

Average Crude Oil Production

1,431 bbls/d

Operating Netback(12)(13)

$14.66/bbl

Funds Flow From Operations(12)

$999,000Capital Expenditures

$9,353,000 November 12, 2020 Private Placement

$28,386,000Net Proceeds

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Investment Summary

Development opportunities from a multi-year production program on our legacy blocks and Ortoire

Significant exploration opportunities

Strong capital discipline combined with positive cashflow

Management and Board have a proven record of transforming small E&Ps

Continuously improve our level of social and environmental responsibility

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Abbreviations

bbl(s) barrel(s)

bbls/d barrels per day

Mbbls thousand barrels

MMbbls million barrels

Mcf thousand cubic feet

Mcf/d thousand cubic feet per day

MMcf million cubic feet

MMcf/d million cubic feet per day

Bcf billion cubic feet

MMBtu million British Thermal Units

boe barrels of oil equivalent

boe/d barrels of oil equivalent per day

Mboe thousand barrels of oil equivalent

MMboe million barrels of oil equivalent

AIM AIM market of the London Stock Exchange plc

AOF Absolute open flow rate

Brent Dated Brent

LOA Lease Operator Agreement

NGLs Natural gas liquids

SPT Supplemental Petroleum Tax

TSX Toronto Stock Exchange

$ or US$ United States dollars

$MM million dollars

Year End: December 31

Engineers: GLJ Ltd.

Auditors: Ernst & Young LLP

Legal: Norton Rose Fulbright LLPNunez & Co.

Transfer Agent: Computershare Trust Company of Canada

Corporate Information

Head Office

Suite 4100, 350 7th Ave SWCalgary, AB T2P 3N9

Office: (403) 750-4400Website: www.touchstoneexploration.com Fax: (403) 266-5794info@touchstoneexploration.com

Trinidad Office

Touchstone Exploration (Trinidad) Ltd.#30 Forest Reserve Road

Fyzabad, Trinidad

Office: (868) 677-7411

Contacts

Paul R. BaayPresident and Chief Executive Officerpbaay@touchstoneexploration.com(403) 750-4488

Scott BudauChief Financial Officersbudau@touchstoneexploration.com(403) 750-4445

James ShipkaChief Operating Officerjshipka@touchstoneexploration.com(403) 750-4455

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Endnotes1) Development drilling locations are based on December 31, 2020 GLJ Ltd. independent reserves evaluation and internal estimates. See "Advisories: Drilling Locations".

2) Calculated as the product of the Company’s TSX common share closing price on February 28, 2021 (C$2.70/share) and 209,399,627 common shares outstanding.

3) Calculated as the product of the Company’s TSX common share closing price on December 31, 2019 (C$0.41/share) and 160,703,095 common shares outstanding.

4) Calculated as the percentage increase of the Company’s TSX common share closing price on December 31, 2019 (C$0.41/share) and December 31, 2020 (C$2.19).

5) See "Advisories: Oil and Gas Drilling and Test Results". Please refer to the Company’s news releases dated September 9, 2019, November 18, 2019 and December 19, 2019 for full disclosure regarding Coho-1 drilling and production test results, including applicable advisories related thereto.

6) See "Advisories: Oil and Gas Drilling and Test Results". Please refer to the Company’s news releases dated December 16, 2019, February 6, 2020, March 11, 2020 and June 15, 2020 for full disclosure regarding Cascadura-1ST1 drilling and production test results, including applicable advisories related thereto.

7) See "Advisories: Oil and Gas Drilling and Test Results". Please refer to the Company's news release dated October 14, 2020 for full disclosure regarding Chinook-1 drilling results, including applicable advisories related thereto.

8) See "Advisories: Oil and Gas Drilling and Test Results". Please refer to the Company's news release dated December 3, 2020 for full disclosure regarding Cascadura Deep-1 drilling results, including applicable advisories related thereto.

9) Based on December 31, 2020 GLJ Ltd. independent reserves evaluation. See "Advisories: Oil and Gas Reserves".

10) Ortoire development and exploration drilling locations are solely based on current internal estimates. See "Advisories: Drilling Locations".

11) Based on December 31, 2016, December 31, 2017, December 31, 2018, December 31, 2019 and December 31, 2020 GLJ Ltd. independent reserves evaluations. See "Advisories: Oil and Gas Reserves".

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Endnotes12) Non-GAAP measure. Refer to "Advisories: Non-GAAP Measures".

13)

14) ($000’s) September 30, 2020

Current assets 12,299

Less: current liabilities 11,430

Working capital surplus 869

Operating Netback Nine months ended September 30, 2020($000’s unless otherwise indicated)

Petroleum revenue 15,178Royalties (4,260)Operating expenses (5,142)Operating netback 5,776

Total production (bbls) 393,838Operating netback ($/bbl) 14.66

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Advisories Currency

Unless otherwise stated, all financial amounts herein are presented in United States dollars. The Company may also reference Canadian dollars ("C$"), Trinidad and Tobago dollars ("TT$") and Pounds Sterling ("£") herein.

Forward-Looking Statements

Certain information regarding Touchstone Exploration Inc. ("Touchstone", "we", "our", "us", or the "Company") set forth in this presentation may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified bythe use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and other similar expressions.Forward-looking statements in this presentation include, but are not limited to, those in respect of the Company’s exploration, development and production opportunities and activities, including anticipated drilling, timing,production testing, development, tie-in, facilities construction, and ultimate production from exploration and development wells; the quality and quantity of prospective hydrocarbon accumulations based on wireline logs,including the Company's interpretations thereof; the extent to which local communities will benefit from the Company's operations; and general business strategies and objectives. Statements relating to “reserves” and“resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted orestimated and can be profitably produced in the future. The Company has a reasonable basis for disclosing such statements, which represent the Company’s internal projections, estimates or beliefs concerning future growth, andresults of operations.

With respect to forward-looking statements contained in this presentation, the Company has made assumptions regarding: financial condition, outlook and results of operations, exploration, development and associatedoperational plans (including drilling, testing, facilities construction and recompletion programs) and the anticipated costs and timing thereof; estimated oil and gas reserves (including the magnitude, ability to recover,commerciality and net present value thereof); production rates and production decline rates; net feet of pay based on internal estimates of wireline logs; the success of exploration opportunities; plans for and results of productiontesting; the ability to secure necessary personnel, equipment, production licences and services; environmental matters; future commodity prices; changes to prevailing regulatory, royalty, tax and environmental laws andregulations; the impact of competition, future capital and other expenditures (including the amount, nature and sources of funding thereof); future financing sources; and business prospects and opportunities; and the impact theCOVID-19 pandemic will have on the Company’s future operations and future petroleum pricing, among other things.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number offactors and risks. New factors emerge from time to time, and it is not possible for Management to predict all of such factors and to assess in advance the impact of each such factor on Touchstone’s business or the extent to whichany factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although the Company believes that the expectations and assumptions on which theforward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Some of the risks thatcould affect the Company's future results and could cause results to differ materially from those expressed in the forward-looking information are described under the heading "Advisories: Business Risks" in this presentation andare also set out in more detail in the Company's 2019 Annual Information Form dated March 25, 2020 which has been filed on SEDAR and can be accessed at www.sedar.com.

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Advisories Forward-Looking Statements (Continued)

Investors should not place undue reliance on any such forward-looking statements or information. Further, any forward-looking statement or information speaks only as of the date on which such statement is made, andTouchstone undertakes no obligation to update any forward-looking statements or information except as required by law, including securities laws. All forward-looking statements and information contained in this presentationare qualified by such cautionary statements.

This presentation is for information purposes only and is not under any circumstances to be construed as a prospectus or an advertisement for a public offering of such securities. No securities commission or similar authority inCanada or elsewhere or the Toronto Stock Exchange has in any way passed upon this presentation, or the merits of any securities of Touchstone Exploration Inc., and any representation to the contrary is an offence. An investmentin Touchstone Exploration Inc.’s securities should be considered highly speculative due to the nature of the proposed involvement in the exploration for and production of oil and natural gas.

This presentation and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of Touchstone Exploration Inc. have not been registeredunder the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.Securities Act and applicable state securities laws or an exemption from such registration is available.

Business Risks

The Company is exposed to numerous operational, technical, financial and regulatory risks and uncertainties, many of which are beyond its control and may significantly affect anticipated future results. The Company is exposed torisks associated with negotiating with foreign governments as well as country risk associated with conducting international activities. Operations may be unsuccessful or delayed as a result of competition for services, supplies andequipment, mechanical and technical difficulties, ability to attract and retain qualified employees on a cost-effective basis, commodity and marketing risk. The Company is subject to significant drilling risks and uncertaintiesincluding the ability to find oil and gas reserves on an economic basis and the potential for technical problems that could lead to well blow-outs and environmental damage. The Company is exposed to risks relating to the inabilityto obtain timely regulatory approvals, surface access, access to third-party gathering and processing facilities, transportation and other third-party related operation risks. The Company is subject to industry conditions includingchanges in laws and regulations, including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced. There are uncertainties in estimating the Company’s reserve and resourcebase due to the complexities in estimated future production, costs and timing of expenses and future capital. The Company is subject to the risk that it will not be able to fulfill the contractual obligations required to retain its rightsto explore, develop and exploit any of its properties. The financial risks the Company is exposed to include, but are not limited to, the impact of general economic conditions in Canada, the United Kingdom and Trinidad, continuedvolatility in market prices for oil and gas, the impact of significant declines in market prices for oil and gas, the ability to access sufficient capital from internal and external sources, changes in income tax laws, royalties andincentive programs relating to the oil and gas industry, fluctuations in interest rates, the C$ to US$ exchange rate and the US$ to TT$ exchange rate. The Company is subject to local regulatory legislation, the compliance with whichmay require significant expenditures and non-compliance with which may result in fines, penalties or production restrictions or the termination of licence, LOA or farm-in rights related to the Company’s oil and gas interests inTrinidad. Certain of these risks are set out in more detail in the Company’s 2019 Annual Information Form dated March 25, 2020 which has been filed on SEDAR and can be accessed at www.sedar.com.

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Advisories Business Risks (Continued)

The COVID-19 pandemic has resulted in emergency actions taken by governments worldwide which has had an effect in Canada, the United Kingdom and Trinidad. The actions taken by these governments have typically included,but is not limited to travel bans, mandatory and self-imposed quarantines and isolations, physical distancing, and the closing of non-essential businesses which have had significant negative effects on economies, including asubstantial decline in crude oil and natural gas demand. Additionally, such actions have resulted in volatility and disruptions in regular business operations, supply chains and financial markets as well as declining trade and marketsentiment. COVID-19 as well as other factors have resulted in the deepest drop in crude oil prices that global markets have seen since 1991. With the rapid spread of COVID-19, oil prices and the global equity markets havedeteriorated significantly and are expected to remain under pressure. These events and conditions have caused a significant decrease in the valuation of oil and natural gas companies and a decrease in confidence in the oil andnatural gas industry. COVID-19 also poses a risk on the financial capacity of the Company's contract counterparties and potentially their ability to perform contractual obligations. The full extent of the risks surrounding the COVID-19 pandemic is continually evolving. The risks disclosed in the Company’s 2019 Annual Information Form may be exacerbated as a result of the COVID-19 pandemic: market risks related to the volatility of oil and gas prices,volatility of foreign exchange rates, volatility of the market price of common shares, and hedging arrangements; operational risks related to increasing operating costs or declines in production levels, operator performance andpayment delays, and government regulations, ability to obtain additional financing, and variations in foreign exchange rates; and other risks related to cyber-security as our workforce moves to remote connections, accountingadjustments, effectiveness of internal controls, and reliance on key personnel, management, and labour.

Oil and Gas Reserves

The reserves information summarized in this presentation are from the Company’s December 31, 2020 independent reserve report prepared by Touchstone’s independent reserves evaluator, GLJ Ltd. ("GLJ"), dated March 4, 2021.The report was prepared in accordance with definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGEH") and National Instrument 51-101 - Standards of Disclosure for Oil and GasActivities ("NI 51-101"). All December 31, 2020 reserves presented are based on GLJ’s forecast pricing dated January 1, 2021 and estimated costs effective December 31, 2020. Additional 2020 reserves information as requiredunder NI 51-101 will be included in the Company’s 2020 Annual Information Form which will be filed on SEDAR on or prior to March 31, 2021.

Oil and Gas Measures

Where applicable, natural gas has been converted to barrels of oil equivalent based on six thousand cubic feet to one barrel of oil. The barrel of oil equivalent rate is based on an energy equivalent conversion method primarilyapplicable at the burner tip, and given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different than the energy equivalency of the 6:1 conversion ratio, utilizing the 6:1conversion ratio may be misleading as an indication of value.

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Advisories Oil and Gas Drilling and Test Results

References in this presentation to net feet of pay is based on the Company's interpretation of wireline logs, which is not necessarily indicative of the quantity and quality of prospective hydrocarbon accumulations.

References in this presentation to production test rates and initial flow rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will commenceproduction and decline thereafter and are not indicative of long-term performance or of ultimate recovery. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. Whileencouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company. Please refer to endnotes 5 and 6 for further information.

Drilling Locations

This presentation discloses total drilling locations. Drilling locations are classified into three categories: (i) proved locations; (ii) probable locations; and (iii) unbooked locations. Proved locations and probable locations are derivedfrom the Company's reserves evaluation of GLJ Ltd. effective December 31, 2020 and account for locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal estimates based onthe prospective acreage associated with the Company’s assets and an assumption as to the number of wells that can be drilled based on industry practice and internal review. Unbooked locations do not have attributed reserves.Of the approximately 215 (net) drilling locations identified herein, 40 are proved locations; 21 are probable locations; and the remaining are unbooked locations. Unbooked locations have been identified by Management as anestimation of potential multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drillinglocations, and if drilled there is no certainty that such locations will result in additional oil and gas reserves or production. The locations on which the Company will drill wells will ultimately depend upon the availability of capital,regulatory approvals, crude oil and natural gas prices, costs, actual drilling results, additional reservoir information that can be obtained and other factors. While certain of the unbooked drilling locations have been de-risked bydrilling existing wells in relative close proximity to such unbooked drilling locations, other unbooked drilling locations are farther away from existing wells where Management has less information about the characteristics of thereservoir, and therefore there is more uncertainty whether wells will be drilled in such locations; and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves or production.

Non-GAAP Measures

This presentation may contain terms commonly used in the oil and natural gas industry, such as funds flow from operations, working capital, and operating netback. These terms do not have a standardized meaning underGenerally Accepted Accounting Principles ("GAAP") and may not be comparable to similar measures presented by other companies. Shareholders and investors are cautioned that these measures should not be construed asalternatives to cash provided by operating activities, net income, or other measures of financial performance as determined in accordance with GAAP. Management uses these non-GAAP measures for its own performancemeasurement and to provide stakeholders with measures to compare the Company’s operations over time. Please refer to endnotes 13 and 14 for further information.

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