Monday, March 25, 2019

Torchlight Energy Resources (TRCH)

Surprising reserve data.

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. 

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

Refer to full report for price target, fundamental analysis and rating. 

• Torchlight Energy presented updated
  information on its Orogrande project, significantly increasing its estimated
  potential recoverable reserves.  Just one week earlier, the company estimated that its
  acreage could have 1.0 billion barrels of reserves.  Today, in a
  presentation to the investment community, it indicated it could have as much as
  3.7 billion barrels. 
• Management believes the time to
  sell the assets or the company is now!  The company plans to make presentations to investors
  beginning in April.  Management said in a call with analysts that its
  number one goal is to sell the company, but that other opti… 

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