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Touchstone Exploration Announces First Quarter 2024 Financial and Operating Results and Provides an Operational Update

Touchstone Exploration Announces First Quarter 2024 Financial and Operating Results and Provides an Operational Update

Touchstone Exploration公佈2024年第一季度財務和經營業績並提供最新運營情況
Accesswire ·  05/14 14:00

CALGARY, AB / ACCESSWIRE / May 14, 2024 / Touchstone Exploration Inc. ("Touchstone", "we", "our" or the "Company") (TSX:TXP)(LSE:TXP) reports its financial and operating results for the three months ended March 31, 2024 and provides an operational update.

艾伯塔省卡爾加里/ACCESSWIRE/2024年5月14日/Touchstone Exploration Inc.(“Touchstone”、“我們” 或 “公司”)(多倫多證券交易所股票代碼:TXP)(倫敦證券交易所股票代碼:TXP)公佈了截至2024年3月31日的三個月的財務和經營業績,並提供了最新運營情況。

Selected financial information is outlined below and should be read in conjunction with our March 31, 2024 unaudited interim condensed consolidated financial statements and related Management's discussion and analysis, both of which will be available under our profile on SEDAR+ () and on our website (). Unless otherwise stated, all financial amounts presented herein are rounded to thousands of United States dollars, and all production volumes disclosed herein are sales volumes based on Company working interest before royalty burdens.

部分財務信息概述如下,應與我們在2024年3月31日未經審計的中期簡明合併財務報表以及相關管理層的討論和分析一起閱讀,這兩份報告都將在我們在SEDAR+()的簡介下和我們的網站()上公佈。除非另有說明,否則此處列報的所有財務金額均四捨五入至數千美元,此處披露的所有產量均爲基於公司營運利息扣除特許權使用費的銷售量。

Paul R. Baay, President and Chief Executive Officer, commented:

總裁兼首席執行官保羅·巴伊評論說:

"We are pleased to announce positive first quarter 2024 results during what has been a very busy time for the Company. Since coming onstream in September 2023, the Cascadura field has transformed Touchstone both operationally and financially, having contributed an estimated $20 million in operating netbacks, ahead of tying in the two further successfully drilled development wells from the surface location. Initial decline rates on our two producing Cascadura wells have been steeper than we first expected but we are learning more about the reservoir for further exploitation. We are maintaining our full year guidance given production increases are heavily weighted towards the fourth quarter of 2024.

“在公司非常繁忙的時期,我們很高興地宣佈2024年第一季度業績良好。自2023年9月投產以來,卡斯卡杜拉油田在運營和財務上都改變了Touchstone,估計貢獻了2000萬美元的運營淨回報,之後又成功地從地表位置鑽探了兩口開發井。我們的兩口Cascadura油井的初始下降率比我們最初預期的要大,但我們對該水庫的了解越來越多,有待進一步開發。鑑於產量增長主要集中在2024年第四季度,我們將維持全年預期。

As announced on May 1, 2024, we were delighted to reach an agreement with the Board of Directors of Trinity Exploration and Production Plc on the terms of a recommended all-share acquisition. We believe the benefits of the proposed transaction will provide further scale and strength to Touchstone in addition to growth opportunities that will be driven by the increased production of the two companies. We are excited at the greater flexibility such a deal would give us around future capital programs, in addition to allowing us to potentially accelerate our development plans.

正如2024年5月1日宣佈的那樣,我們很高興與Trinity Exploration and Production Plc董事會就建議的全股收購條款達成協議。我們認爲,除了兩家公司產量增加所推動的增長機會外,擬議交易的好處還將爲Touchstone提供進一步的規模和實力。這樣的協議除了使我們有可能加快發展計劃外,還將爲我們提供更大的靈活性,我們對未來的資本計劃感到興奮。

We look forward to updating shareholders on our ongoing operating and corporate workstreams in due course."

我們期待在適當時候向股東通報我們正在進行的運營和公司工作流程的最新情況。

First Quarter 2024 Financial and Operating Highlights

2024 年第一季度財務和運營亮點

  • Achieved average quarterly production of 7,015 boe/d (80 percent natural gas), representing a 228 percent increase from first quarter 2023 average production volumes of 2,139 boe/d (40 percent natural gas). First quarter 2024 production decreased by 18 percent relative to 8,504 boe/d produced in the fourth quarter of 2023 (79 percent natural gas), mainly reflecting natural declines from our Cascadura field.
  • Realized petroleum and natural gas sales of $16,584,000 (Q4 2023 - $20,759,000).
    • Cascadura field production volumes in the quarter contributed $6,961,000 of net natural gas sales at an average realized price of $2.49 per Mcf and $1,657,000 of net NGL sales at an average realized price of $69.59 per barrel.
    • Natural gas production from the Coho-1 well averaged net volumes of 2.8 MMcf/d (460 boe/d) in the quarter and contributed $542,000 of net natural gas sales at an average realized price of $2.16 per Mcf.
    • Crude oil production from our legacy fields contributed $7,424,000 of net sales at an average realized price of $69.95.
  • Generated an operating netback of $10,463,000, a 24 percent decrease from the fourth quarter of 2023, primarily due to decreased natural gas and NGL sales volumes.
  • Achieved quarterly funds flow from operations of $6,142,000 in the first quarter of 2024 compared to $10,489,000 in the preceding quarter.
  • Delivered net earnings of $3,628,000 ($0.02 per basic and diluted share).
  • $11,962,000 in quarterly capital investments primarily focused on expenditures directed towards one CO-1 crude oil development well and two Cascadura development wells, and progressing construction on the flowline from the Cascadura C surface location to the Cascadura natural gas processing facility.
  • Exited the first quarter of 2024 with a cash balance of $9,537,000 and a net debt position of $27,621,000, resulting in a reduced net debt to annual funds flow from operations ratio of 1.45 times.
  • 實現了7,015桶桶油當量/日(80%的天然氣)的平均季度產量,比2023年第一季度的平均產量2,139桶油當量/日(40%天然氣)增長了228%。2024年第一季度的產量與2023年第四季度的8,504桶桶/日(天然氣產量爲79%)相比下降了18%,這主要反映了我們的卡斯卡杜拉油田的自然下降。
  • 石油和天然氣已實現銷售額爲16,584,000美元(2023年第四季度——20,759,000美元)。
    • 卡斯卡杜拉油田在本季度的產量爲696.1萬美元的天然氣淨銷售額貢獻了696.1萬美元,平均已實現價格爲每立方英尺2.49美元,淨液化天然氣銷售額爲16.57萬美元,平均實現價格爲每桶69.59美元。
    • Coho-1油井的天然氣產量在本季度平均淨產量爲2.8百萬立方英尺/日(460桶桶/日),貢獻了54.2萬美元的天然氣淨銷售額,平均實現價格爲每立方英尺2.16美元。
    • 我們傳統油田的原油產量爲淨銷售額貢獻了7,424,000美元,平均已實現價格爲69.95美元。
  • 營運淨回報爲10,463,000美元,較2023年第四季度下降24%,這主要是由於天然氣和液化天然氣銷售量下降。
  • 2024年第一季度的季度運營資金流爲6,142,000美元,而上一季度爲10,489,000美元。
  • 實現了3,628,000美元的淨收益(每股基本收益和攤薄後每股收益0.02美元)。
  • 11,962,000美元的季度資本投資主要集中在用於一口CO-1原油開發油井和兩口卡斯卡杜拉開發井的支出,以及從卡斯卡杜拉C地面位置到卡斯卡杜拉天然氣處理設施的輸油管線的建設進展情況。
  • 於2024年第一季度退出,現金餘額爲9537,000美元,淨負債頭寸爲27,621,000美元,導致淨負債與年度運營資金流的比率下降了1.45倍。

Post Period-end Highlights

後期末亮點

  • Successfully drilled and cased the CO-375 development on our CO-1 block, with openhole logs and drilling data indicating a sand thickness of approximately 530 feet in the Forest Formation and approximately 625 feet in the Cruse Formation.
  • On April 18, 2024 we executed a third amended and restated loan agreement with our existing lender providing for an additional $13 million of bank debt capacity, which will be used to finance our previously announced initial 2024 capital program.
  • On May 1, 2024, we announced that we reached an agreement with the Board of Directors of Trinity Exploration and Production Plc on the terms of a recommended all-share acquisition.
  • 成功地在我們的 CO-1 區塊上鑽探了 CO-375 開發項目並對其進行了封鎖,露天日誌和鑽探數據表明,森林組中的沙子厚度約爲 530 英尺,克魯斯組的沙層厚度約爲 625 英尺。
  • 2024年4月18日,我們與現有貸款機構簽署了第三份經修訂和重述的貸款協議,規定額外增加1300萬澳元的銀行債務能力,這筆資金將用於爲我們先前宣佈的2024年初始資本計劃融資。
  • 2024 年 5 月 1 日,我們宣佈,我們與 Trinity Exploration and Production Plc 董事會就建議的全股收購條款達成協議。

First Quarter 2024 Financial and Operating Results Overview

2024 年第一季度財務和經營業績概述

Three months ended
March 31,
2024
December 31,
2023
March 31,
2023



Operational



Average daily production



Crude oil(1)(bbls/d)
1,166 1,133 1,285
NGLs(1)(bbls/d)
262 622 -
Crude oil and liquids(1)(bbls/d)
1,428 1,755 1,285
Natural gas(1)(Mcf/d)
33,521 40,491 5,124
Average daily production (boe/d)(2)
7,015 8,504 2,139
Average realized prices(3)
Crude oil(1)($/bbl)
69.95 72.26 64.86
NGLs(1)($/bbl)
69.59 72.92 -
Crude oil and liquids(1)($/bbl)
69.88 72.49 64.86
Natural gas(1)($/Mcf)
2.46 2.43 2.12
Realized commodity price ($/boe)(2)
25.98 26.53 44.03
Production mix (% of production)
Crude oil and liquids(1)
20 21 60
Natural gas(1)
80 79 40
Operating netback ($/boe)(2)
Realized commodity price(3)
25.98 26.53 44.03
Royalties(3)
(5.76) (5.53) (13.01)
Operating expenses(3)
(3.83) (3.46) (12.05)
Operating netback(3)
16.39 17.54 18.97
Financial ($000's except per share amounts)
Petroleum and natural gas sales
16,584 20,759 8,476
Cash from operating activities
5,369 8,512 913
Funds flow from operations
6,142 10,489 803
Net earnings (loss)
3,628 (21,236) (279)
Per share - basic and diluted
0.02 (0.09) (0.00)
Exploration capital expenditures
108 595 8,750
Development capital expenditures
11,854 591 269
Capital expenditures(3)
11,962 1,186 9,019
Working capital deficit(3)
14,121 7,581 4,383
Principal long-term balance of bank debt
13,500 15,000 19,500
Net debt(3) - end of period
27,621 22,581 23,883
Share Information(000's)
Weighted average shares outstanding - basic
234,213 233,487 233,037
Weighted average shares outstanding - diluted
236,548 233,487 233,037
Outstanding shares - end of period
234,213 234,213 233,037
三個月已結束
3月31日
2024
十二月三十一日
2023
3月31日
2023



運營



平均日產量



原油(1)(bbls/d)
1,166 1,133 1,285
液化天然氣(1)(bbls/d)
262 622 -
原油和液體(1)(bbls/d)
1,428 1755 1,285
天然氣(1)(mcf/d)
33,521 40,491 5,124
平均日產量 (boe/d)(2)
7,015 8,504 2,139
平均已實現價格(3)
原油(1)($/bbl)
69.95 72.26 64.86
液化天然氣(1)($/bbl)
69.59 72.92 -
原油和液體(1)($/bbl)
69.88 72.49 64.86
天然氣(1)($/mcf)
2.46 2.43 2.12
已實現大宗商品價格 (美元/英國央行)(2)
25.98 26.53 44.03
製作組合 (佔產量的百分比)
原油和液體(1)
20 21 60
天然氣(1)
80 79 40
運營淨回報 (美元/英國央行)(2)
已實現的商品價格(3)
25.98 26.53 44.03
特許權使用費(3)
(5.76) (5.53) (13.01)
運營費用(3)
(3.83) (3.46) (12.05)
運營淨回報(3)
16.39 17.54 18.97
金融 (每股金額除外,000美元)
石油和天然氣銷售
16,584 20,759 8,476
來自經營活動的現金
5,369 8,512 913
運營資金流
6,142 10,489 803
淨收益(虧損)
3,628 (21,236) (279)
每股——基本和攤薄後
0.02 (0.09) (0.00)
勘探資本支出
108 595 8,750
發展資本支出
11,854 591 269
資本支出(3)
11,962 1,186 9,019
營運資金赤字(3)
14,121 7,581 4,383
銀行債務的長期本金餘額
13,500 15,000 19,500
淨負債(3) -期末
27,621 22,581 23,883
分享信息(千年)
加權平均已發行股票——基本
234,213 233,487 233,037
加權平均已發行股票——攤薄
236,548 233,487 233,037
已發行股份-期末
234,213 234,213 233,037

Notes:

注意事項:

  1. Refer to "Advisories - Product Type Disclosures" for further information.
  2. In the table above and elsewhere in this news release, references to "boe" mean barrels of oil equivalent that are calculated using the energy equivalent conversion method. Refer to "Advisories - Oil and Natural Gas Measures" for further information.
  3. Non-GAAP financial measure. See the "Advisories - Non-GAAP Financial Measures" for further information.
  1. 請參閱”公告- 產品類型披露“以獲取更多信息。
  2. 在上表和本新聞稿的其他部分中,提及的 “boe” 是指使用能量當量轉換法計算的桶石油當量。請參閱”公告- 石油和天然氣措施“以獲取更多信息。
  3. 非公認會計准則財務指標。請參閱”公告-非公認會計准則財務指標“以獲取更多信息。

Outlook and Guidance

展望與指導

Our 2024 capital program is progressing as planned, with four of the six wells in the program successfully drilled and cased. Road and pipeline construction to tie-in our two recently drilled Cascadura development wells to our natural gas facility is progressing and we expect the infrastructure will complete prior to the end of the third quarter of 2024.

我們的2024年資本計劃正在按計劃進行中,該計劃的六口油井中有四口已成功鑽探和套管。將我們最近鑽探的兩口卡斯卡杜拉開發井與我們的天然氣設施配套的道路和管道建設正在進行中,我們預計基礎設施將在2024年第三季度末之前完工。

Although Cascadura field production has declined higher than originally anticipated, we currently forecast to maintain our preliminary 2024 guidance announced on December 19, 2023. The material forecasted 2024 production increase is expected to be weighted to the fourth quarter of 2024 based on estimated initial production from our two recently drilled Cascadura development wells. Management will update its 2024 guidance for the proposed acquisition of Trinity Exploration and Production Plc if and when appropriate.

儘管卡斯卡杜拉油田產量的下降幅度高於最初的預期,但我們目前預測將維持2023年12月19日公佈的2024年初步指引。根據我們最近鑽探的兩口卡斯卡杜拉開發井的預計初始產量,預計2024年產量增長的材料將加權到2024年第四季度。管理層將在適當時更新其2024年擬議收購Trinity Exploration and Production Plc的指導方針。

Operational Update

操作更新

Cascadura

卡斯卡杜拉

The Cascadura field produced approximately 5,388 boe/d (95 percent natural gas) in the first quarter of 2024, representing 77 percent of our total quarterly net production. Since initial production in September 2023 through March 31, 2024, our Cascadura-1ST1 and Cascadura Deep-1 wells have cumulatively produced approximately 8.77 Bcf of gross natural gas volumes (net - 7.02 Bcf) and over 121,000 barrels of gross NGLs (net - 97,000 barrels) in 208 total days. Over the same period, the field has contributed a net operating netback of approximately $19.96 million.

卡斯卡杜拉油田在2024年第一季度生產了約5,388桶桶油當量(95%的天然氣),佔我們季度總淨產量的77%。自2023年9月首次生產至2024年3月31日以來,我們的Cascadura-1st1和Cascadura Deep-1油井在總共208天內累計生產了約877億立方英尺的天然氣總量(淨產量——702億立方英尺)和超過12.1萬桶液化天然氣(淨產量——9.7萬桶)。同期,該油田貢獻了約1,996萬美元的淨營業淨回報。

During the first seven-months of production we have continually monitored and optimized natural gas rates from the two Cascadura wells. In the Cascadura-1ST1 well, we replaced the original choke valve with a larger valve. In the Cascadura Deep-1 well, we ran a production logging tool to indicate the source of gas within the wellbore and we added perforations above and below the original completion interval which marginally increased production. Both Cascadura-1ST1 and Cascadura Deep-1 continue to produce through surface chokes to control pressure.

在生產的前七個月中,我們持續監測和優化了兩口卡斯卡杜拉油井的天然氣費率。在 Cascadura-1st1 油井中,我們用更大的閥門替換了原來的節流閥。在Cascadura Deep-1油井中,我們運行了生產測井工具來指示井眼內的氣體來源,並在原始完井間隔的上方和下方添加了穿孔,這略微提高了產量。Cascadura-1st1 和 Cascadura Deep-1 都繼續通過表面阻塞來控制壓力。

Production in the first quarter of 2024 was impacted by natural declines as well as approximately six days of downtime in the Cascadura Deep-1 well associated with the operations noted above. Based on our analysis to date, including higher than expected initial decline rates as compared to pre-production models, the wells are exhibiting a dual porosity/permeability system which indicate that production is derived from both sand porosity/permeability as well as a fracture porosity system. A fracture porosity system can deliver high initial production rates and pressure which can decline quickly while sand matrix porosity/permeability may deliver at lower production rates for longer periods of time.

2024年第一季度的產量受到自然下降以及與上述運營相關的Cascadura Deep-1油井約六天的停機時間的影響。根據我們迄今爲止的分析,包括與預生產模型相比高於預期的初始下降率,這些油井表現出雙孔隙度/滲透率系統,這表明產量來自沙子孔隙度/滲透率和裂縫孔隙度系統。裂縫孔隙度系統可以提供較高的初始生產率和壓力,壓力會迅速下降,而沙基孔隙度/滲透率可以在較低的生產率下持續更長時間。

Given the nature of the production, and the apparent influences of natural fractures in the structure, we have commenced a feasibility study to determine the potential benefits of a stimulation program to optimize natural gas and associated liquids recovery from the wells.

鑑於生產的性質以及結構中自然裂縫的明顯影響,我們已經開始了一項可行性研究,以確定優化油井中天然氣和相關液體回收的刺激計劃的潛在好處。

CO-1 Drilling Operations

CO-1 鑽探作業

The CO-375 development well, located on our CO-1 block, was spud on April 3, 2024 and reached a total depth of 6,500 feet on April 30, 2024. The Forest Formation, which was the secondary target, was observed at a depth of 2,805 feet and the primary Cruse Formation target was encountered at a depth of 4,598 feet. Drilling samples and openhole wireline logs indicated the presence of sands in both formations. The Forest Formation indicated 530 feet of sand, with approximately 250 feet of net hydrocarbon pay. Similarly, the Cruse Formation indicated 625 feet of sand, with an estimated 240 feet of net hydrocarbon pay. The well has been cased in preparation for oil production and the drilling rig has been released.

位於我們的 CO-1 區塊的 CO-375 開發井於 2024 年 4 月 3 日開採,並於 2024 年 4 月 30 日達到了 6,500 英尺的總深度。在2,805英尺的深度觀測到作爲次要目標的森林地層,在4598英尺的深度遇到了克魯斯地層的主要目標。鑽探樣本和露天電纜記錄表明,兩個地層中都存在沙子。森林地層顯示沙子有530英尺,碳氫化合物淨收入約爲250英尺。同樣,克魯斯地層顯示出625英尺的沙子,估計淨碳氫化合物開採量爲240英尺。該油井已經完工,爲石油生產做準備,鑽機已經釋放。

The completion rig was mobilized to the surface location and completion operations are underway on the CO-374 well, following which the CO-375 well will be completed. We expect that both development wells will be online by the end of May 2024.

完井鑽機已移至地表,CO-374 油井的完井作業正在進行中,CO-375 油井將完工。我們預計,兩口開發油井將在2024年5月底之前上線。

Production

製作

In April 2024, we produced average net volumes of 5,940 boe/d as follows:

2024年4月,我們的平均淨交易量爲5,940桶桶/日,如下所示:

  • Cascadura field contributed net sales volumes of 4,360 boe/d consisting of:
    • natural gas sales volumes of 25.4 MMcf/d or 4,226 boe/d with a realized price of $2.51 per Mcf; and
    • natural gas liquids volumes of 134 bbls/d with an average realized price of $76.12 per barrel;
  • Coho net average natural gas sales volumes were 2.6 MMcf/d or 426 boe/d at a realized price of $2.28 per Mcf (excluding third party processing fees); and
  • average net daily crude oil sales volumes were 1,154 bbls/d with an average realized price of $76.12 per barrel.
  • 卡斯卡杜拉油田貢獻的淨銷售量爲4,360桶/日,其中包括:
    • 天然氣銷售量爲25.4百萬立方英尺/日或4,226桶桶/日,已實現價格爲每立方英尺2.51美元;以及
    • 液化天然氣容量爲134桶/日,平均已實現價格爲每桶76.12美元;
  • Coho天然氣淨平均銷售量爲2.6百萬立方英尺/日或426桶桶/日,已實現價格爲每立方英尺2.28美元(不包括第三方手續費);以及
  • 平均每日原油淨銷售量爲1154桶/日,平均已實現價格爲每桶76.12美元。

2024 Annual Meeting of Shareholders

2024 年年度股東大會

Touchstone's virtual-only Annual Meeting of Shareholders (the "Meeting") will be held on Wednesday, June 19, 2024 at 10:30 a.m. (Mountain time).

Touchstone的僅限虛擬的年度股東大會(“會議”)將於2024年6月19日星期三上午10點30分(山區時間)舉行。

Registered and beneficial shareholders will be mailed a notice-and-access notification and form of proxy on or around May 17, 2024, advising as to the electronic availability of the Meeting materials, including the 2024 Management Information Circular, the 2023 audited consolidated financial statements and related Management's discussion and analysis.

註冊股東和受益股東將在2024年5月17日左右收到通知和訪問通知和委託書,就會議材料的電子可用性提供建議,包括2024年管理信息通告、2023年經審計的合併財務報表以及相關的管理層討論和分析。

For holders of our depositary interests, hard copies of our Management Information Circular and form of direction will be mailed on or about May 17, 2024.

對於我們的存託權益持有人,我們的管理信息通告和指示表格的紙質副本將在2024年5月17日左右郵寄。

Subsequent to the mailing date, the Meeting materials will be available on our website () and under our profile on SEDAR+ ().

在郵寄日期之後,會議材料將在我們的網站 () 和我們在SEDAR+上的個人資料下提供 ()。

Management Update

管理層更新

As Touchstone continues to pursue its growth strategy and operations are becoming engineering intensive, Touchstone is pleased to announce that Mr. Brian Hollingshead has been promoted to Executive Vice President, Engineering and Business Development. In addition to joining our executive team, Mr. Hollingshead will oversee our production, engineering and facilities departments. In conjunction, Mr. James Shipka's title has been amended from Chief Operating Officer to Executive Vice President, Asset Development and HSE, where he will continue to lead our HSE, drilling and subsurface teams.

隨着Touchstone繼續推行其增長戰略和運營變得工程密集型,Touchstone很高興地宣佈,布萊恩·霍林斯黑德先生已被提升爲工程和業務開發執行副總裁。除了加入我們的執行團隊外,霍林斯黑德先生還將監督我們的生產、工程和設施部門。同時,James Shipka先生的職位已從首席運營官修改爲資產開發和HSE執行副總裁,他將繼續領導我們的HSE、鑽探和地下團隊。

Touchstone Exploration Inc.

Touchstone 勘探公司

Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".

Touchstone Exploration Inc. 是一家總部位於艾伯塔省卡爾加里的公司,從事收購石油和天然氣權益以及石油和天然氣勘探、開發、生產和銷售的業務。Touchstone目前活躍於位於特立尼達和多巴哥共和國的陸上物業。該公司的普通股在多倫多證券交易所和倫敦證券交易所的AIM市場上市,股票代碼爲 “TXP”。

For further information about Touchstone, please visit our website at or contact:

如需了解有關 Touchstone 的更多信息,請訪問我們的網站或聯繫:

Mr. Paul Baay, President and Chief Executive Officer
Mr. Scott Budau, Chief Financial Officer
Mr. James Shipka, EVP Asset Development and HSE
Telephone: 403.750.4487

Paul Baay 先生,總裁兼首席執行官
首席財務官 Scott Budau 先生
James Shipka 先生,資產開發和 HSE 執行副總裁
電話:403.750.4487

Advisories

公告

Forward-looking Statements

前瞻性陳述

The information provided in this news release contains certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expect", "plan", "anticipate", "believe", "intend", "maintain", "continue to", "pursue", "design", "result in", "sustain" "estimate", "potential", "growth", "near-term", "long-term", "forecast", "contingent" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. The forward-looking statements contained in this news release speak only as of the date hereof and are expressly qualified by this cautionary statement.

本新聞稿中提供的信息包含適用證券法所指的某些前瞻性陳述和信息(統稱爲 “前瞻性陳述”)。此類前瞻性陳述包括但不限於未來運營的預測、估計、預期和目標,這些假設、風險和不確定性受制於假設、風險和不確定性,其中許多是公司無法控制的。前瞻性陳述不是歷史事實,通常以 “期望”、“計劃”、“預測”、“相信”、“打算”、“維持”、“繼續”、“追求”、“設計”、“結果”、“維持”、“估計”、“潛力”、“增長”、“短期”、“長期”、“預測”、“偶然” 和類似的表述,或者是 “將”、“將”、“可能”、“可以” 或 “應該” 發生或實現的事件或條件。本新聞稿中包含的前瞻性陳述僅代表截至本新聞稿發佈之日,並受本警示聲明的明確限制。

Specifically, this news release includes, but is not limited to, forward-looking statements relating to: the Company's business plans, strategies, priorities and development plans; Touchstone's preliminary 2024 guidance; the anticipated increase in 2024 annual average production from 2024 capital spending and the cash flows therefrom; anticipated timing of developmental and exploration drilling production; expected drilling activities, including locations and the timing thereof; anticipated timing of well tie-in operations and production coming online; expectations that proceeds from the Company's amended loan agreement will be able to fully finance its 2024 capital program; the Company's proposed acquisition of Trinity Exploration and Production Plc, including the Company's expectation that the proposed acquisition will close under the announced terms, the timing thereof, and the benefits to be derived from the proposed acquisition; the quality and quantity of prospective hydrocarbon accumulations based on openhole wireline logs and drilling data, including the Company's interpretations thereof; expected completion activities, including locations and the timing thereof and the expected timing of production therefrom; the Company's expectation of conducting future well optimization activities; and Touchstone's current and future financial position, including the sufficiency of resources to fund future capital expenditures and maintain financial liquidity. The Company's actual decisions, activities, results, performance, or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Touchstone will derive from them.

具體而言,本新聞稿包括但不限於與以下內容有關的前瞻性陳述:公司的業務計劃、戰略、優先事項和發展計劃;Touchstone的2024年初步指導;2024年資本支出及由此產生的現金流的預期增長;開發和勘探鑽探生產的預期時機;預期的鑽探活動,包括地點和時間;油井搭配作業和產量的預計時機;預計的鑽探活動,包括地點和時機;預計的配井作業和產量上線時間;預計公司修訂後的貸款協議的收益將能夠爲其2024年的資本計劃提供全額融資;該公司對Trinity Exploration and Production Plc的收購,包括公司對擬議收購將根據宣佈的條款完成的預期、收購時間以及擬議收購將帶來的好處;基於露天電纜記錄和鑽探數據的潛在碳氫化合物積聚的質量和數量,包括公司對此的解釋;預期完工活動,包括地點和時間以及預計的生產時間;公司對未來進行油井優化活動的預期;以及Touchstone當前和未來的財務狀況,包括爲未來資本支出提供資金和維持財務流動性的充足資源。公司的實際決策、活動、業績、業績或成就可能與此類前瞻性陳述中所表達或暗示的決策、活動、業績或成就存在重大差異,因此,無法保證前瞻性陳述所預期的任何事件會發生或發生,也無法保證Touchstone將從中獲得什麼好處。

This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Touchstone's prospective results of operations and production included in its preliminary 2024 guidance, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the paragraphs above. The FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of providing further information about Touchstone's future business operations. This information has been provided for illustration only and, with respect to future periods, is based on budgets and forecasts that are speculative and are subject to a variety of contingencies and may not be appropriate for other purposes. Touchstone and its Management believe that FOFI has been prepared on a reasonable basis, reflecting Management's best estimates and judgments, and represents, to the best of Management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. Touchstone disclaims any intention or obligation to update or revise any FOFI contained herein, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained herein should not be used for purposes other than for which it is disclosed herein, and the financial outlook information contained herein is not conclusive and is subject to change. The actual results of the Company's operations and the resulting financial results will vary from the amounts set forth herein and such variations may be material.

本新聞稿包含面向未來的財務信息和財務展望信息(統稱爲 “FOFI”),這些信息涉及Touchstone的2024年初步指導中包含的預期經營和生產業績,所有這些信息都受上述段落中列出的相同假設、風險因素、限制和條件的約束。本新聞稿中包含的FOFI是截至本新聞發佈之日發佈的,其目的是提供有關Touchstone未來業務運營的更多信息。這些信息僅供參考,就未來時期而言,所依據的預算和預測是推測性的,會受到各種突發事件的影響,可能不適合用於其他目的。Touchstone及其管理層認爲,FOFI是在合理的基礎上編制的,反映了管理層的最佳估計和判斷,據管理層所知和意見,代表了公司的預期行動方針。但是,由於這些信息是高度主觀的,因此不應將其視爲未來結果的必然指標。除非適用法律要求,否則Touchstone不打算或義務更新或修改此處包含的任何 FOFI,無論是由於新信息、未來事件還是其他原因。提醒讀者,此處包含的FOFI不得用於此處披露的目的以外的其他目的,並且此處包含的財務前景信息不是決定性的,可能會發生變化。公司運營的實際業績和由此產生的財務業績將與本文規定的金額有所不同,此類差異可能是重大的。

For further information regarding Touchstone's preliminary 2024 guidance and the related advisories thereto, refer to the Company's news release dated December 19, 2023 entitled "Touchstone Announces 2024 Capital Budget, Preliminary 2024 Guidance and an Operational Update" and the Company's most recent Management's discussion and analysis for the three months ended March 31, 2024 accompanying our March 31, 2024 unaudited interim condensed consolidated financial statements. For further information regarding the Company's proposed Acquisition of Trinity Exploration and Production Plc and the related advisories thereto, please refer refer to the Company's news release dated May 1, 2024 entitled "Touchstone Exploration Announces Acquisition of Trinity Exploration and Production PLC" and the Rule 2.7 Announcement. All of the above referenced documents are available online on our SEDAR+ profile () and website ().

有關Touchstone2024年初步指導方針及其相關諮詢的更多信息,請參閱公司2023年12月19日發佈的新聞稿,標題爲”Touchstone公佈2024年資本預算、2024年初步指導和運營最新情況“以及公司管理層對截至2024年3月31日的三個月的最新討論和分析,以及我們2024年3月31日未經審計的中期簡明合併財務報表。有關公司提議收購Trinity Exploration and Production Plc及其相關諮詢的更多信息,請參閱公司2024年5月1日發佈的新聞稿,標題爲”Touchstone Exploration宣佈收購三一勘探與生產有限公司“以及《規則 2.7》公告。以上所有參考文件均可在我們的 SEDAR+ 個人資料 () 和網站 () 上在線獲取。

Although the Company believes that the expectations and assumptions on which the forward-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. 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 of factors and risks. Certain of these risks are set out in more detail in the Company's 2023 Annual Information Form dated March 20, 2024 which will be available under the Company's profile on SEDAR+ () and on the Company's website (). The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

儘管公司認爲前瞻性陳述所依據的預期和假設是合理的,但不應過分依賴前瞻性陳述,因爲公司無法保證這些陳述將被證明是正確的。由於前瞻性陳述涉及未來的事件和狀況,因此就其本質而言,它們涉及固有的風險和不確定性。由於許多因素和風險,實際結果可能與目前的預期有重大差異。其中某些風險將在公司於2024年3月20日發佈的2023年年度信息表中更詳細地列出,該表將在SEDAR+()和公司網站()上的公司簡介下公佈。本新聞稿中包含的前瞻性陳述是截至本新聞稿發佈之日作出的,除非適用的證券法另有要求,否則公司沒有義務或意圖公開更新或修改此處或其他方面的任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因。

Non-GAAP Financial Measures

非公認會計准則財務指標

This news release references various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under Canadian Generally Accepted Accounting Principles ("GAAP") and do not have a standardized meaning prescribed by International Financial Reporting Accounting Standards ("IFRS") and therefore may not be comparable to similar financial measures disclosed by other issuers. Readers are cautioned that the non-GAAP financial measures referred to herein should not be construed as alternatives to, or more meaningful than, measures prescribed by IFRS, and they are not meant to enhance the Company's reported financial performance or position. These are complementary measures that are commonly used in the oil and natural gas industry and by the Company to provide shareholders and potential investors with additional information regarding the Company's performance. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures disclosed herein.

本新聞稿引用了國家儀器52-112中定義的各種非公認會計准則財務指標、非公認會計准則比率、資本管理措施和補充財務指標 非公認會計准則和其他財務指標披露。此類指標不是《加拿大公認會計原則》(“GAAP”)中認可的指標,也不具有《國際財務報告會計準則》(“IFRS”)規定的標準化含義,因此可能無法與其他發行人披露的類似財務指標進行比較。提醒讀者,此處提及的非公認會計准則財務指標不應被解釋爲國際財務報告準則規定的指標的替代方案,也不得將其解釋爲比國際財務報告準則規定的指標更有意義,它們也無意提高公司報告的財務業績或狀況。這些補充措施通常用於石油和天然氣行業,也是公司爲向股東和潛在投資者提供有關公司業績的更多信息。以下是此處披露的非公認會計准則財務指標、非公認會計准則比率、資本管理指標和補充財務指標的描述。

Funds flow from operations

運營資金流

Funds flow from operations is included in the Company's consolidated statements of cash flows. Touchstone considers funds flow from operations to be a key measure of operating performance as it demonstrates the Company's ability to generate the funds necessary to finance capital expenditures and repay debt. Management believes that by excluding the temporary impact of changes in non-cash operating working capital, funds flow from operations provides a useful measure of the Company's ability to generate cash that is not subject to short-term movements in non-cash operating working capital.

運營資金流包含在公司的合併現金流量表中。Touchstone認爲運營資金流是衡量經營業績的關鍵指標,因爲它表明了公司籌集資本支出和償還債務所需的資金的能力。管理層認爲,通過排除非現金運營營運資金變化的暫時影響,運營資金流可以有效衡量公司產生不受非現金運營營運資金短期變動影響的現金的能力。

Operating netback

運營淨回報

Touchstone uses operating netback as a key performance indicator of field results. The Company considers operating netback to be a key measure as it demonstrates Touchstone's profitability relative to current commodity prices and assists Management and investors with evaluating operating results on a historical basis. Operating netback is a non-GAAP financial measure calculated by deducting royalties and operating expenses from petroleum and natural gas sales. The most directly comparable financial measure to operating netback disclosed in the Company's consolidated financial statements is petroleum and natural gas revenue net of royalties. Operating netback per boe is a non-GAAP ratio calculated by dividing the operating netback by total production volumes for the period. Presenting operating netback on a per boe basis allows Management to better analyze performance against prior periods on a comparable basis.

Touchstone使用運營淨回值作爲場地結果的關鍵績效指標。該公司將營業淨回值視爲一項關鍵指標,因爲它表明了Touchstone相對於當前大宗商品價格的盈利能力,並幫助管理層和投資者在歷史基礎上評估經營業績。運營淨回值是一種非公認會計准則財務指標,計算方法是從石油和天然氣銷售中扣除特許權使用費和運營費用。與公司合併財務報表中披露的營業淨回值最直接可比的財務指標是扣除特許權使用費後的石油和天然氣收入。每個英國央行的營業淨回值是非公認會計准則比率,計算方法是將營業淨回值除以該期間的總產量。按每個英國央行列報運營淨回值可以使管理層在可比基礎上更好地分析與前期相比的業績。

Capital expenditures

資本支出

Capital expenditures is a non-GAAP financial measure that is calculated as the sum of exploration and evaluation asset expenditures and property, plant and equipment expenditures included in the Company's consolidated statements of cash flows and is most directly comparable to cash used in investing activities. Touchstone considers capital expenditures to be a useful measure of its investment in its asset base.

資本支出是一項非公認會計准則財務指標,其計算方法是公司合併現金流量表中包含的勘探和評估資產支出以及不動產、廠房和設備支出的總和,與投資活動中使用的現金最直接地具有可比性。Touchstone認爲資本支出是衡量其資產基礎投資的有用指標。

Working capital and net debt

營運資金和淨負債

Working capital and net debt are capital management measures used by Management to monitor the Company's capital structure to evaluate its true debt and liquidity position and to manage capital and liquidity risk. Working capital is calculated by subtracting current liabilities from current assets as they appear on the applicable consolidated balance sheet. Net debt is calculated by summing the Company's working capital and the principal (undiscounted) long-term amount of senior secured debt and is most directly comparable to total liabilities.

營運資金和淨負債是管理層用來監控公司的資本結構、評估其真實債務和流動性狀況以及管理資本和流動性風險的資本管理措施。營運資金的計算方法是從相應的合併資產負債表上顯示的流動資產中減去流動負債。淨負債是通過公司的營運資金和優先擔保債務的長期本金(未貼現)金額之和計算得出的,與總負債的可比性最爲直接。

Net debt to funds flow from operations ratio

運營淨負債與資金流的比率

The Company monitors its capital structure using a net debt to funds flow from operations ratio, which is a non-GAAP ratio and a capital management measure calculated as the ratio of the Company's net debt to trailing twelve months funds flow from operations for any given period.

公司使用淨負債與運營資金流比率來監控其資本結構,該比率是非公認會計准則比率,也是一種資本管理衡量標準,計算方法是公司在任何給定時期的淨負債與過去十二個月運營資金流的比率。

Supplementary Financial Measures

補充財務措施

Realized commodity price per boe - is comprised of petroleum and natural gas sales as determined in accordance with IFRS, divided by the Company's total production volumes for the period.

每桶已實現大宗商品價格 -包括根據國際財務報告準則確定的石油和天然氣銷售額除以公司該期間的總產量。

Royalties per boe - is comprised of royalties as determined in accordance with IFRS, divided by the Company's total production volumes for the period.

每桶特許權使用費 -由根據國際財務報告準則確定的特許權使用費除以公司該期間的總產量組成。

Operating expenses per boe - is comprised of operating expenses as determined in accordance with IFRS, divided by the Company's total production volumes for the period.

每桶油的運營費用 -由根據國際財務報告準則確定的運營費用除以公司該期間的總產量組成。

For further information, please refer to the "Advisories - Non-GAAP Financial Measures" section of the Company's most recent Management's discussion and analysis for the three months ended March 31, 2024 accompanying our March 31, 2024 unaudited interim condensed consolidated financial statements, both of which will be available on our website () and under our SEDAR+ profile ().

欲了解更多信息,請參閱”公告 - 非公認會計准則財務指標“公司管理層對截至2024年3月31日的三個月的最新討論和分析部分,以及我們2024年3月31日未經審計的中期簡明合併財務報表,兩份報告都將在我們的網站 () 和我們的SEDAR+簡介 () 下公佈。

Oil and Natural Gas Measures

石油和天然氣措施

Where applicable, natural gas has been converted to barrels of oil equivalent (boe) based on six thousand cubic feet (Mcf) to one barrel (bbl) of oil. The barrel of oil equivalent rate is based on an energy equivalent conversion method primarily applicable 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 6:1 conversion ratio may be misleading as an indication of value. This conversion factor is an industry accepted norm and is not based on either energy content or prices.

在適用的情況下,根據六千立方英尺(Mcf)轉換爲一桶(桶),天然氣已轉換爲桶油當量(bbl)。桶油當量率基於主要適用於燃燒器尖端的能量當量轉換方法,鑑於基於當前原油價格與天然氣的價值比率與 6:1 轉換比率的能量當量存在顯著差異,因此使用 6:1 的轉換比率作爲價值指示可能會產生誤導。該換算係數是行業公認的標準,不是基於能量含量或價格。

Product Type Disclosures

產品類型披露

This news release includes references to crude oil, NGLs, natural gas, and average daily production volumes. Under National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), disclosure of production volumes should include segmentation by product type as defined in the instrument. In this MD&A, references to "crude oil" refer to "light crude oil and medium crude oil" and "heavy crude oil" combined product types; references to "NGLs" refer to condensate; and references to "natural gas" refer to the "conventional natural gas" product type, all as defined in the instrument. In addition, references to "crude oil and liquids" herein include crude oil and NGLs.

本新聞稿中提到了原油、液化天然氣、天然氣和日均產量。根據國家儀器 51-101- 石油和天然氣活動披露標準 (“NI 51-101”),產量的披露應包括按儀器中定義的產品類型進行細分。在本MD&A中,提及的 “原油” 是指 “輕質原油和中質原油” 和 “重質原油” 的組合產品類型;提及 “NGL” 是指凝析油;提及 “天然氣” 是指 “常規天然氣” 產品類型,均如儀器所定義。此外,此處提及的 “原油和液體” 包括原油和液化天然氣。

For information regarding specific product disclosures in accordance with NI 51-101, please refer to the "Advisories - Product Type Disclosures" section in the Company's most recent Management's discussion and analysis for the three months ended March 31, 2024 accompanying our March 31, 2024 unaudited interim condensed consolidated financial statements, both of which will be available on our website () and under our SEDAR+ profile ().

有關根據NI 51-101進行特定產品披露的信息,請參閱”公告 - 產品類型披露“本節是公司管理層對截至2024年3月31日的三個月的最新討論和分析,以及2024年3月31日未經審計的中期簡明合併財務報表,兩份報告都將在我們的網站 () 和我們的SEDAR+簡介 () 下公佈。

Abbreviations

縮略語

The following abbreviations are referenced in this news release:

本新聞稿中引用了以下縮寫:

bbls/d barrels per day

每天 bbls/d 桶

boe barrels of oil equivalent

boe 桶油當量

boe/d barrels of oil equivalent per day

英國央行/日桶石油當量

NGLs natural gas liquids

NGL 液化天然氣

Mcf thousand cubic feet

mcf 千立方英尺

Mcf/d thousand cubic feet per day

Mcf/D 每天千立方英尺

MMcf million cubic feet

mmcf 百萬立方英尺

MMcf/d million cubic feet per day

mmcf/d 每天百萬立方英尺

Bcf billion cubic feet

Bcf 十億立方英尺

SOURCE: Touchstone Exploration, Inc.

來源:Touchstone Exploration, Inc.


譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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