Torchlight Energy Resources, Inc. (NASDAQ: TRCH) is a high
growth oil and gas Exploration and Production (E&P) company primarily
focused on the acquisition and development of highly profitable domestic oil
fields. Leveraging a diverse portfolio, carefully selected interests, and a
strong management team are pillars of Torchlight’s broader success strategy.
The company maintains a diversified energy portfolio by
holding interests in numerous projects in multiple established plays, and it
currently holds interests in Texas, Oklahoma and Kansas, where its targets are
established plays such as the Wolf Penn, Eagle Ford Shale, Mississippi
Limestone and Hunton Limestone trends.
Torchlight is currently moving forward on the next phase of
drilling on three new wells in its Orogrande Project in West Texas, where the
company owns a 47.5% working interest on 168,000 acres alongside Founders Oil
and Gas, LLC. Torchlight drilled the Rich A-11 well (6,091 feet) on the
Orogrande Project in March last year and subsequently executed a $50 million JV
farm-out agreement with Midland, Texas-based Founders Oil and Gas, who
initiated frac work on the well in November.
The Marcelina Creek Project in South Texas, with its prime
access to the Austin Chalk, Buda, and Eagle Ford formations, is surrounded on
all four sides by leading Eagle Ford producers. Torchlight’s Johnson #4 well
was recently re-entered and drilled laterally to approximately 2500 feet in the
Austin Chalk Formation. With more than 20 additional drilling locations on its
Marcelina Creek Asset, the project has the potential to positively impact cash
flows and production sustainability.
Torchlight’s executive team and board of directors are led
by CEO John Brda and COO Willard McAndrew III. Combined they have over 50 years
of experience in the oil and gas industry as executives, investors and
consultants to the industry. Their knowledge base includes all aspects of the
business, including: operations, mid stream, capital formation, purchase and
sale of assets, re-entries, investor relations and oil and gas consulting for
public and private companies.
Key Investment Highlights:
Defined strategy targets highly profitable oil fields in the
United States
Diversified energy portfolio enables projects in multiple
established plays
Primary focus on interest in major Orogrande Basin discovery
in West Texas
Strong management team with vast, relevant experience in
energy industry
For more information on the company, visit
www.TorchlightEnergy.com
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Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
