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Texas Energy Company to Meet Annual Drilling Requirements
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It is completing this work while continuing its search for a company to develop one of its projects.

Torchlight Energy Resources Inc. (TRCH:NASDAQ) announced in a news release that while continuing to find a developer for its Orogrande Basin project in Texas, the energy company finished drilling the Cactus A35 #1H well and began drill testing another, the Founders A25 #2.

Torchlight and partner Maverick Operating successfully drilled the horizontal Cactus A35 #1H well into the Pennsylvanian Section, a different and deeper zone than the one productive in Founders A25 #1H. Torchlight is now completing Cactus A35 #1H. Final drilling data for this well can be found on Torchlight's website.

Now underway is drilling of Founders A25 #2, which is positioned atop one of several two-dimensional structural highs defined on Torchlight's property. Vertical drilling will test the zones below the Penn Section all the way down to the basement rock. These deeper zones, which allow for conventional and unconventional approaches, represent potential upside.

Once Torchlight finishes drilling Founders A25 #2, it will start completion of that well and at the same time, frack Cactus A35 #1H.

As for Torchlight's efforts to find a developer of Orogrande Basin, management continues to have conversations with various parties. "We continue to pursue strong indications of interest and look forward to eventually moving the discussions from scientific to financial in nature," CEO John Brda said in the release.

The company will continue to fulfill its annual drilling requirements and improve its asset profile, providing updates as they become available.


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 billboard sponsors of Streetwise Reports: Torchlight Energy. Click here for important disclosures about sponsor fees.
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.
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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 interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torchlight Energy, a company mentioned in this article.

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