TRCH:NASDAQ

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.
TRCH:NASDAQ

Expert Comments:

For its interest, Torchlight Energy Resources is to receive $350,000.
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John White, ROTH Capital Partners

(11/16/20)
"On Nov. 11, 2020, Torchlight Energy Resources Inc. entered into an agreement and closed a letter of agreement with the operator of the Winkler project and McCabe Petroleum Corp. (MPC), a company owned by Torchlight's chairman Greg McCabe, to sell Torchlight and MPC's interest in the Winkler project for a purchase price of $450K. . .MPC agreed to have its $100K portion of the purchase price paid to Torchlight in exchange for Torchlight issuing MPC 313,480 shares of common stock."

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.
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John White, ROTH Capital Partners

(11/10/20)
"Torchlight Energy Resources Inc. today reported that the operator of its Hazel project has completed hydraulic fracturing operations. The stimulation went according to plan. . .flowback is scheduled to commence next week."

The stimulation procedure, being carried out at Torchlight Energy Resources' Hazel asset, will take about one week to complete.
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The transaction signals a strategic shift in focus for Torchlight Energy Resources.
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Fracking is the next step for the Torchlight Energy Resources well.
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Torchlight Energy Resources reported that the new horizontal well at its Hazel project has been spudded and drilling operations have commenced by the property's option holders.
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Torchlight Energy entered into an option agreement to sell its 9,600 acre Hazel project to a private investor group for $1,300 per acre.
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Clive Maund, CliveMaund.com

(6/18/20)
"For the first time in a long time, Torchlight Energy Resources Inc. is starting to look interesting as an investment. . .with the dip of the past 10 days presenting us with a considerably better price, this looks like a good point to buy the stock, as it is not far above the support at its 10-year lows as its technical condition improves."

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John White, ROTH Capital Partners

(3/10/20)
"Torchlight Energy Resources Inc. announced that the debt holders of $6M in principal and $1.5M in accrued interest have elected to convert these obligations into a working interest in the Orogrande basin leasehold, a right of conversion contained in the notes. . .the company calculates that the conversion correlates to approximately $1,100/acre on the 134,000-acre Orogrande basin play."

Clive Maund, CliveMaund.com

(3/3/20)
"Torchlight Energy Resources Inc. stock wants to break out but has been waiting for market conditions to improve, which is very prudent. . .once it does break out, it is likely to run quickly across the 'open country' of the giant gap to resistance in the $0.90 area, which will result in a good percentage gain from here."

Keith Kohl, Pure Energy Trader

(2/26/20)
"During its peak 24-hour production rates, Torchlight Energy Resources Inc.'s Cactus A35 #1H well produced 15 bbl/d and 110 Mcf/d. Based on these results, and using a 10,000 ft lateral instead, we're looking at around 1,500 bbl/d or approximately 3,300 boe/d. . .we're still staring at a very strong buying opportunity."

More Expert Comments

Experts Following This Company

Keith Kohl – Energy and Capital
headshot of Peter Krauth
Peter Krauth, Pres
Clive Maund – CliveMaund.com
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John White, Senior Research Analyst – ROTH Capital Partners

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