Touchstone Provides Operational Update

CALGARY, ALBERTA--(Marketwired - Oct. 23, 2014) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) is pleased to provide the following operational update.

Highlights

• Achieved average sales volumes for the month of September of 2,293 barrels per day ("bbls/d"), 1,980 bbls/d from Trinidad and 313 bbls/d from Canadian operations;
• Realized average corporate sales volumes of 2,269 bbls/d during the third quarter, representing an increase of 86 percent from the average daily volume of 1,220 barrels produced in the second quarter of 2014; and
• Drilled and cased four (4 net) wells in Trinidad during the quarter.

Trinidad Operations

Since May 2014 the Company has successfully drilled nine (8.16 net) wells. Three (3 net) wells were drilled on the Forest Reserve WD-8 block, two (2 net) wells on the Grand Ravine WD-4 block, one (1 net) well on the Coora block, one (1 net) well on Fyzabad, one (1 net) well on Sunty and one (0.16 net) exploratory well on the Cory Moruga block. Two additional wells are currently being drilled, one on the Grand Ravine WD-4 block and one on the Coora block.

Fyzabad

Of the four (4 net) wells drilled in the quarter, only the Fyzabad well (FZ-304) is currently on production. The well was drilled to a total depth of 1,805 feet and encountered 114 feet of net oil pay within the Upper Cruse formation. Completed on September 2, 2014, the well has been flowing at an average field estimated rate of 75 bbls/d through a 10/32 choke and has produced a field estimated 3,843 barrels over 51 days.

Forest Reserve WD-8

FR-1751 was drilled to a total measured depth of approximately 3,380 feet. The well encountered 377 feet of net oil pay of which 179 feet is in the Lower Forest formation, 60 feet in the Upper Cruse, 93 feet in the Middle Cruse and 45 feet in the Lower Cruse formation. The well will initially be competed in the Lower Cruse formation.

Coora

CO-366 was drilled to a total measured depth of 3,420 feet. The well encountered 180 feet of net oil pay of which 142 feet is in the Upper Forest formation and 38 feet in the Lower Forest formation. CO-366 will initially be completed in the Lower Forest formation.

Sunty

The well on our Sunty property (Sunty-3) was drilled to a total depth of 4,320 feet, encountering 110 feet of net oil pay all within the Herrera formation. It will initially be completed in the lower most Herrera sands.