Texas Oil & Gas Explorer Completes Three Orogrande Wells, Confirms Pay Zones

Source: Streetwise Reports   02/22/2019

The next step is to analyze the array of data generated during drilling.

Torchlight Energy Resources Inc. (TRCH:NASDAQ) announced in a news release that it and partner Maverick Operating finished drilling the three wells slated for Q4/18 and in the process made some significant conclusions.

They confirmed the existence of several new potential Wolfcamp pay zones and the Penn Silt pay zone as well as a deep structure in the Atoka Formation.

“The science is all coming together nicely, confirming what Rich Masterson has been stating all along,” Chairman of the Board Greg McCabe said in the release.

From the trio of wells, Torchlight collected a “voluminous amount of scientific data,” including 11 logs of various types and more than 100 sidewall cores, the release noted. Additional sources include newly processed two-dimensional seismic, gravity information and magnetics. Analysis of all of that scientific material, currently in progress, will lead to a determination of the best ways to complete the wells.

After such a review and analysis, expected to be done in early March, Torchlight will hold a conference call to relay the findings and their significance.

The subsequent plan going forward is to market the project to larger exploration and production companies with a potential interest in taking it over.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Torchlight Energy Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Torchlight Energy Resources. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torchlight Energy Resources, a company mentioned in this article.

( Companies Mentioned: TRCH:NASDAQ, )