Touchstone and Petrobank Announce Completion of Business Combination

CALGARY, ALBERTA--(Marketwired - May 14, 2014) - Petrobank Energy and Resources Ltd. (PBG.TO) ("New Touchstone") and Touchstone Exploration Inc. (TSX VENTURE:TAB) ("Touchstone") are pleased to announce the completion of the previously announced combination of New Touchstone and Touchstone by way of a statutory plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, New Touchstone acquired all the outstanding shares of Touchstone through the issuance of 0.471 New Touchstone shares in exchange for each Touchstone share. Following the Arrangement, New Touchstone consolidated its shares on a 2 to1 basis and, subject to final approval from the Registrar of Corporations (Alberta), will change its name to "Touchstone Exploration Inc.".

The Touchstone common shares are expected to be delisted from the TSX Venture Exchange concurrent with the listing of the New Touchstone common shares on the Toronto Stock Exchange pursuant to the Arrangement. The New Touchstone common shares are expected to commence trading on the Toronto Stock Exchange under the symbol "TXP" on or about May 20, 2014.

New Touchstone is a Calgary-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. New Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago and western Canada. Please see the new corporate presentation regarding New Touchstone available on www.touchstoneexploration.com and http://www.petrobank.com/.

Forward-Looking Statements: Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Specifically, and without limitation, this press release contains forward-looking statements and information relating to the anticipated timing for the closing of the Arrangement.

In respect of the forward-looking statements and information set out in this press release, Petrobank and Touchstone have provided such in reliance on certain assumptions that they believe are reasonable at this time, including the ability of the parties to receive, in a timely manner, the necessary corporate approvals for the name change and the stock exchange approvals with respect to the Touchstone common shares, the New Touchstone common shares and the New Touchstone trading symbol. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.

Since forward-looking statements and information 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. Failure to obtain regulatory and stock may result in New Touchstone not being able to use the name "Touchstone Exploration Inc.".

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.