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Torchlight Energy Resources Inc.


Torchlight Energy Resources Inc., based in Plano, Texas, is a high-growth oil and gas exploration and production company with a primary focus on the acquisition and development of highly profitable domestic oil fields. The company holds interests in Texas, Oklahoma and Kansas, where its targets are established plays such as the Eagle Ford and Hunton trends. Focused on proven, established plays with multiple pay zones, the company has a solid management team with over 175 years of combined experience.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Energy Report Interview with Bob Moriarty (11/6/14) "When I write about an energy stock, it's because I know the management. I met the people at Torchlight Energy Resources Inc. when I was out in L.A. at a conference a few months ago. They're raising money, and the company is going to have a lot of money when the cost of projects and the cost of drilling comes down. Torchlight is drilling in Texas, Kansas and Oklahoma. . .I'd like to see Torchlight increase its acreage and do drilling. It's a very favorable time because things have slowed in the patch." More >

Streetwise Reports' Special Situations Interview with Jim Collins (8/20/14) "I met with Torchlight Energy Resources Inc., which has projects in Texas, Oklahoma and Kansas. The company recently announced that it is acquiring 172,000 acres in West Texas known as the Orogrande Basin. It is a large target, mostly contiguous, and that will aid in exploitation. This acreage was part of the University of Texas in a county that has seen very little drilling activity recently. That makes Torchlight a pioneer, which can mean more risk, but also potentially much more return. Torchlight will act as the operator, which is a shift from its historic non-operating model. The geologist, Rich Masterson, is a legend in Texas. His efforts have led to much of the development in the Permian basin." More >

Joe Giamichael, Umbrella Research & Advisory (8/19/14) "Torchlight Energy Resources Inc.'s Q2/14 revenues grew over 900% year over year and 155% sequentially; management discussed having recently achieved operational cash flow profitability. . .the company has significantly expanded its asset base, drilling inventory and production in 2013 and the first 6 months of 2014, which is evident in the 2013 reserve report, the recent drilling update and the confirmation we expect from an updated reserve report."

Joe Giamichael, Umbrella Research & Advisory (6/10/14) "Torchlight Energy Resources Inc. was unfairly and dishonestly attacked in a piece published by an anonymous author on Seeking Alpha yesterday; the article used inflammatory language, fear-inducing headlines and false and misleading information as the crux of its attempt to make the argument that the company has no fundamental value and is likely to be an imminent bankruptcy. I could not more strongly disagree with the anonymous, yet disclosed short positioned author."

Peter Epstein, Seeking Alpha (6/10/14) "On June 8, an article with an aggressive and alarmist title came out stating Torchlight Energy Resources Inc.'s stock 'May Go to $0'. . . after reading the summary, I realized I had little to worry about. . .the only good news is that new and existing investors now have a buying opportunity."

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The Energy Report Interview with Joe Giamichael (5/29/14) "Torchlight is a pretty exciting company that we've been working with for nearly two years. I think it has made huge strides over that time. Given the aggressive drilling program that it has in front of it right now, I think the good times have only just begun for shareholders. We'll see pretty significant volume growth this year. In 2014, you could see almost a tenfold growth in barrels per day. It has a capex program of 90 additional wells. It has all-star partners in both Kansas and Oklahoma. I think it is punching well above its weight in regard to its partners. Its portion of those 90-gross wells should take it north of 2 Mbbl/d production as an exit rate for this year.

"The chairman of the company actually was the former head of midcontinent E&P for Amoco Corp. He has gone into areas that he has known and developed to source Torchlight's core projects. The company looked for players with good engineering and drilling capabilities and a history of success in those specific regions. As an example, in Kansas, it is partnered with Ring Energy, and Ring's management team has had two previous successful public exits, the most recent being Arena Resources Inc., which it sold to SandRidge Energy for $1.7B. Ring's team has a tremendous track record for drilling and producing these less sexy but very economic infill wells, and does so pretty rapidly. So Torchlight has a pretty good pilot program, and we expect the company could knock out as many as 20 or 30 wells this year, in which Torchlight is a 50/50 partner." More >

SeeThruEquity (4/25/14) "Torchlight Energy Resources Inc. reported 2013 revenue of $1.3M, representing an increase of 25% from $1M in 2012. The company had gross margins of 66.5% for 2013, up from 51.8% in 2012. . .we are maintaining our price target of $7.44; it represents 49% upside from the recent market price of $4.99."

Joe Giamichael, Umbrella Research & Advisory (4/24/14) "Torchlight Energy Resources Inc.'s daily production more than doubled from 114 boe/d at the end of 2013 to 250 boe/d at the end of Q1/14. . .given these early results, we believe the company is on track to meet its goals of drilling 90 new wells in 2014 and exiting the year with ~2,0002,500 boe/d net, which assuming a conservative $90/bbl oil price, translates to ~$80M in revenues on a run-rate basis. . .we believe the progress made to date has allowed Torchlight to evolve from a single-field play illiquid micro-cap into a fundamentally viable, high-growth junior E&P company."

The Energy Report Interview with Michael Breard (3/11/14) "Torchlight Energy Resources Inc. is a small company with a property in the Eagle Ford that provides cash flow. It plans to sell that asset, if it can get a high enough price, because it is going more into the Hunton play in Central Oklahoma with a private operator, Husky Ventures Inc. Husky has drilled 3540 wells in the Hunton after spending a lot of money on technical work to find the right spots to drill and has been very successful. Torchlight has four areas of mutual interest with Husky. Torchlight has two other properties in Kansas, where it can drill low-cost, low-risk oil wells. Torchlight is currently drilling in one Kansas play with Ring Energy Inc. . .Torchlight sold $7M in equity recently. It is also looking at a mezzanine financing package or a line of credit. It has already set aside $6M to gain a half-interest in the Ring Energy play in Kansas and has put up its share for at least two more months of drilling with Husky." More >

The Energy Report Interview with Bob Moriarty (2/13/14) "Torchlight Energy Resources Inc. has a bunch of projects in Texas. It plans to drill 90 exploitation wells this year. It has a ton of money in the bank and will be cash flow positive in September 2014. This is a $5 stock that could easily go to $10 or $15." More >

Joe Giamichael, Umbrella Research & Advisory (1/30/14) "Torchlight Energy Resources Inc. announced yesterday that it plans to commence drilling the initial 5-well program in Southwest Kansas by Feb. 5; the company expects to complete all five vertical Mississippian wells by the end of March and evaluate the results before commencing with the second 5-well drilling program. The 10-well program is part of a joint development agreement with Ring Energy Inc. on 17,000 acres in Kansas that was signed in October 2013."

Jim Collins, The Street (1/3/14) "The Hunton play has been good to Gastar Ltd., and Torchlight Energy Resources Inc. is seeing the same results with early wells paying back its investment in less than 100 days. Torchlight is not just Gastar junior, though; in addition to its Oklahoma assets, Torchlight has exposure to two separate plays in Kansas that give the story a little spice. The company is working with Husky Energy Inc. on a Mississippian Lime play and Ring Energy on a Maquoketa Dolomite play, and I believe these two projects will be the propellant for Torchlight's shares in 2014."

Ajay Tandon, SeeThruEquity (12/17/13) "Torchlight Energy Resources Inc.'s Q3/13 revenue of $455K represented an increase of 65.4% from $275K in Q3/12. . .we are raising our price target from $5.13 to $7.44/share based on the company's joint venture with Ring Energy Inc. and expansion in Oklahoma with Husky Ventures Inc. The listing on NASDAQ should also increase volume and take some volatility out of the stock price."

Joe Giamichael, Umbrella Research & Advisory (12/16/13) "Torchlight Energy Inc.'s shares will begin trading on NASDAQ on Dec. 16, under the same ticker, 'TRCH'. . .the company has strengthened its management team and expanded its board of directors to seven members. . .we view this transition as another exciting initial step in the right direction for a company that has shown the ability, through acreage acquisitions and the implementation of a successful drilling program, to position itself to grow into a mid-cap exploration and production entity over the next two years."

Joe Giamichael, Umbrella Research & Advisory (11/25/13) "Torchlight Energy Inc. generated ~$450K in revenues in Q3/13, a 65% year-over-year and a 167% sequential improvement. . .gross margin for the quarter came in at 70%. . .we reiterate our Buy rating and raise our 12 to 24 month price target from $5 to $8."

Joe Giamichael, Umbrella Research & Advisory (11/8/13) "Torchlight Energy Inc. announced that the Boeckman 1-14H well, which was completed in September of this year, is currently producing 175 bbl/d and 700 Mcf/d gas and has grossed over $2M in total well revenue during the first 90 days of production. The newest well in the area was put into production three weeks ago and is currently producing 733 bbl/d and 669 Mcf/d gas. . .this makes it the sixth producing well for the company overall and the second producing well in the Hunton."

Joe Giamichael, Umbrella Research & Advisory (11/7/13) "Torchlight Energy Inc. announced that it has closed a $4M extension to the previous convertible notes offering, for an aggregate raise of $12M of growth capital. . .the use of proceeds from this raise will be to finance its aggressive drilling campaign. . .we reiterate our Buy rating."

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