Torchlight Energy Resources Inc.

Torchlight Energy Resources, Inc., based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company currently holds interests in Texas where their targets are established plays such as the Permian Basin and the Eagle Ford Shale.

Expert Comments:

A high-growth oil and gas exploration and production company drilled the first horizontal well on its Permian Basin acreage.
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Dallas Salazar, Medium (4/25/17)
"On Monday, April 25, 2017, Torchlight Energy Resources Inc. took a major step forward, toward history, with its successful vertical well testing via its Hazel project; the company has announced that it has brought oil to the surface via its Flying B Ranch No. 2 vertical well. While a test well and while only one stage, a measure of well complexity as well as commercial viability, the successful vertical well testing is a major milestone in the history of Torchlight."

Jon Prior, Dallas Business Journal (4/17/17)
"Plano oil and gas firm Torchlight Energy Resources Inc. has closed on an $8M debt raise in a sign the market is optimistic in a turnaround for the company as it pursues a potential drilling discovery in West Texas. . .it said the money will be used finance two wells for its Hazel project in the Midland basin and to pay off older debt. The deal should be enough capital for Torchlight through 2018."

"Torchlight Energy Resources Inc. has announced that it has entered into a Letter of Intent to essentially double its ownership (i.e., working interest) in its Midland Basin Wolfcamp assets, also known as the Hazel Project. Given that the LOI would bring Torchlight Energy's working interest to ~74% across 12,000 gross acres, if ultimately consummated, this would result in the exploration and production company (E&P) owning a pro forma 8,800 net acres the play. This transaction, if ultimately consummated (and considering the structuring of the transaction), would definitively be one of the single most accretive energy complex transactions dating back to the beginning of the current commodity pricing crisis. . .despite historic macro hurdles, Torchlight Energy continues to execute from an operational standpoint, and continues to unlock value for early-stage investors. Run resembling a private E&P and/or a joint venture between sophisticated investors, Torchlight Energy has, time and time again, answered the call of critics questioning if an exploratory E&P can be taken to scale at all, but especially given the macro hurdles. Again, Torchlight Energy continues to show consistent operational progress, growing its deep value all while improving its top-end monetization potential." read more >

"Someday I'm going to post a piece about Torchlight Energy Resources Inc. in 75-point type when their stock hits $15. I'm going to say, "I TOLD YOU SO," in bold writing. They have been doing everything right and their shares have drifted down from $1.75 in August to a low of $0.67 in mid-October. . .so far this year, land prices in the Basin are averaging $30,000 an acre. Torchlight has 8,880 net acres in the Permian. Ignore their 168,000 acres in Orogrande in West Texas totally. They believe the land is worth $12,000 an acre; other similar land is going for $30,000 to $60,000 an acre. You can do the math. Others can't and the short interest in Torchlight is back at high levels. Any new buying is going to blast the shares higher as shorts struggle to cover. . .Torchlight will not be around long enough to spend all of the $50 million exploration money from Founders. Someone will take them out long before then and it won't be at $0.97. They own 8,880 acres in Midland and 47,500 net acres in Orogrande that meets or beats Midland technical." read more >

Experts Following This Company

Clive Maund – gold, silver & oil shares
Bob Moriarty, Author 321 Gold
Dallas Salazar – Capgainr

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