Touchstone Exploration Regulatory News (TXP)

APPOINTMENT OF INDEPENDENT DIRECTOR AND GRANT OF SHARE OPTIONS

Calgary, Alberta - December 22, 2020 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) is pleased to announce the appointment of Ms. Beverley Smith to Touchstone's Board of Directors (the "Board") as of December 22, 2020. Ms. Smith will also serve on the Board's Compensation and Governance Committee and on the Health, Safety, Environment and Reserves Committee.

Ms. Smith is a chartered geologist and an accomplished business leader with over thirty years of experience in the oil and gas sector, having delivered a portfolio of achievements in a successful international career with BG Group, as Vice President Exploration and Growth for Europe and most recently as Interim Chief Executive Officer of Hurricane Energy plc. Ms. Smith has a background in development and production geology and subsurface management, notably in Trinidad (Hibiscus, Poinsettia and Ixora fields), Tunisia (Hasdrubal field) and various operated developments in the United Kingdom including Mercury, Neptune, Minerva, Apollo, Fleming, Drake and Jackdaw fields as well as other non-operated developments. Ms. Smith brings further corporate governance expertise to the Board with a proven track record of improving risk management capabilities, safety frameworks, and ensuring accountability and transparency. Ms. Smith is an independent non-executive director at Hurricane Energy plc and the President of The Petroleum Exploration Society of Great Britain. Ms. Smith holds a Bachelor of Science degree in geology and a Master of Science degree in petroleum geology.

John D. Wright, Chairman of the Board, commented, "We are delighted that Beverley has joined the Board. Her expertise in international oil and gas, specifically her background in Trinidad, will be instrumental as we continue to explore and develop the Ortoire block."

Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies)

The following directorships and partnerships are currently held by Ms. Smith or have been held in the past five years:

Current Directorships

Bas Advisory Limited

Hurricane Energy plc

The Kimmeridge Trust

The Petroleum Exploration Society of Great Britain

Petroleum Geology Conferences Limited

Previous Directorships

Hurricane (Strathmore) Limited

Hurricane (Whirlwind) Limited

Hurricane Basement Limited

Hurricane Gla Limited

Hurricane Group Limited

Hurricane Gwa Limited

Hurricane Holdings Limited

Hurricane Petroleum Limited

Input Patient Advocacy

POWERful Women

Aside from the information set out above, there are no further disclosures to be made in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of Beverley Ann Smith, aged 55. Ms. Smith does not currently hold an interest in the Company's share capital.

The Company granted Ms. Smith 115,000 share options on December 22, 2020 in accordance with the Company's shareholder approved stock option plan. The share options were issued with an exercise price of C$2.07 per common share, which was measured by reference to the five-day weighted average trading price of the Company's common shares on the Toronto Stock Exchange to the close of trading on December 21, 2020. The share options have a five-year term and vest one third on each of the next three anniversaries of the grant date.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail regarding the share option award.

Touchstone Exploration Inc.

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".

For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487

Mr. Scott Budau, Chief Financial Officer

Shore Capital (Nominated Advisor and Joint Broker)

Nominated Advisor: Edward Mansfield / Daniel Bush / Michael McGloin Tel: +44 (0) 207 408 4090

Corporate Broking: Jerry Keen

Canaccord Genuity (Joint Broker) 

Adam James / Henry Fitzgerald O'Connor / Thomas Diehl Tel: +44 (0) 207 523 8000

Camarco (Financial PR)

Nick Hennis / Billy Clegg Tel: +44 (0) 203 781 8330

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.