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.

Expert Comments:

"Torchlight Energy Resources Inc. . .is very optimistic. It drilled its first well on the Orogrande, but instead of going to full production, it is collecting data. This is a large prospect, 180,000 acres. Last week Torchlight announced a definitive agreement with Founders Oil and Gas LLC. Founders will provide $5M in project reimbursement costs and an additional $45M in development capital in exchange for a 50% working interest in the project. Founders will also become the operator of record." read more >

"I have an interest in Torchlight Energy Resources Inc. It's a smaller, newer company, and it is going to drill wells in the Orogrande Basin project in Hudspeth County, West Texas. I originated some of the geological work and ideas there, and the Orogrande compares well to the Wolfbone, with the same rocks that were productive in the Wolfbone. We are using the same application of logic and parameters of evaluation as in the other basins. This was the third Permian Basin in West Texas. . .I'll have the luxury of doing all the science for the Orogrande. It's a geologist's dream to go into a new basin and try to find oil and gas. We'll give it the very best evaluation and shot at production as possible. The company is taking a geographically wild—but geologically not so wild—idea and performing the scientific methodology and completions used to the east, in the Delaware and Midland basins. Once you've reduced the risk as much as you can, all that's left to do is to drill it and find out. The risk/reward is huge, with a great potential for reward." read more >

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Jim Collins, Founding Partner – The Portfolio Guru

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