Friday, February 22, 2019

Torchlight Energy (TRCH)

Torchlight Provides Update on Orogrande – What’s Important.

Torchlight Energy
Resources Inc acquires, explores, exploits, and/or develops oil and natural gas
properties in the United States. The company has an interest in four oil and
gas projects namely the Orogrande Project in Hudspeth County, Texas, and the
Hazel Project in Sterling, Tom Green, and Irion Counties, Texas, the Winkler
Project in Winkler County, Texas, and the Hunton wells in partnership with
Husky Ventures in Central Oklahoma. It operates through three business
processes Investment Evaluation and Review; Operations and Field Activities;
and Administrative and Finance Management.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

RATING: OUTPERFORM

• TRCH completed the drilling phase
  of three wells.  The wells in Orogrande confirmed several new pay zones in addition to Wolfcamp (1,300 ft) including the Atoka (6,200 ft).  Management indicated the Atoka has 500′ of structural gain and excellent porosity.  The wells meet drilling requirements to hold land position (two more need to be done by year-end).  
• New hire and new seismic data will
  help define the play.   Through a newly-employed industry professional, TRCH came across significant 2-d seismic, gravity and magnetics data on the Orogrande field.  The data was gathered by Texa…
  
  
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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.