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TICKERS: TRCH

Oil & Gas Firm Reports Positive Signs After Frack Stimulation
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Source:

The energy company is now conducting fluid flowback at the Texas well.

Torchlight Drill Pad

Torchlight Energy Resources Inc. (TRCH:NASDAQ) is seeing oil and gas shows early in the frack fluid flowback process at its Cactus A35 #1H well in Texas, it announced in a news release.

Cactus A35 #1H is now producing 160180 barrels of fluid per day with about 15% load recovery. The primary pump being used can move 500 barrels of liquid per day.

"Intake pressure remains over 1,000 pounds per square inch, and the company is anticipating increased hydrocarbon content as the frack load and intake pressure both decline," the release noted.

Now, Torchlight is working to estimate initial production potential and reserves.

"We are very encouraged to be seeing oil and gas shows from this well early in the frac flowback process," stated John Brda, Torchlight's CEO. "With the frac size and design used, we have stimulated both the matrix and fracture system in the Penn formation's dual porosity composition. Once we establish an Initial Potential (IP) production rate we will have necessary data to both estimate initial production potential and reserves from extended length laterals using multi-stage fracture stimulation techniques. The stimulation of this 100-foot lateral interval should provide us the evidence required to prove commercial viability in the oil window of the Pennsylvanian formation, which is critical to project marketability."

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Torchlight Energy. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torchlight Energy, a company mentioned in this article.




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