Touchstone Exploration Inc. announced that the Company has signed an Exploration and Production License with the Ministry of Energy and Energy Affairs of Trinidad and Tobago for the Ortoire Block in Southern Trinidad. Under the terms of the License, Touchstone is the operator with an 80% working interest. The Petroleum Company of Trinidad and Tobago holds the remaining 20% partner interest and will be carried for the License minimum work obligations.

The License is effective for an initial term of six years and can be extended a further 25 years in the event of a commercial discovery. The Ortoire Block is located approximately ten kilometers east of Touchstone's Trinidad office in Fyzabad and covers approximately 44,731 gross acres (35,785 net to Touchstone). The License includes a commitment for a six year minimum work program which includes technical reviews, an 85 kilometer 2D seismic program and a four well drilling program.

Capital requirements associated with the minimum work obligations total approximately $11 million over the initial six year term of the License and are expected to be funded from operating cash flows.