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TICKERS: TRCH

Drilling of Orogrande Basin Well Delineates Multiple Targets
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Oil & gas exploration and development firm Torchlight Energy Resources also confirms the presence of two formations on its acreage there.

Torchlight Energy Resources Inc. (TRCH:NASDAQ) announced in a news release that drilling of the A25 #2 well at its Orogrande Basin project encountered several conventional pay zones.

The vertical, deep exploration well, drilled through the unconventional Wolfcamp, Penn, Barnett and Woodford zones, reached a total depth at 7,623 feet. "This is the first time Torchlight and its operator, Maverick Operating, have drilled through and confirmed the presence of the Barnett and Woodford formations directly on its lease," near the center of Torchlight's 134,000 acres, the release noted.

The depth at which A25 #2 encountered these zones is significantly deeper than the wells to the east that, on testing, produced oil and gas. The fact that these zones are deeper means they should provide added reservoir pressure and thermal maturity and, therefore, yield good quality oil and gas, the company noted.

Texas-based Torchlight believes multiple targets for testing exist on A25 #2, according to log data. "It is exciting to confirm that deeper and widespread zones with this well now provide four major zones of unconventional targets," Mike Zebrowski, G and G Science lead on the project, said in the release. Additionally, the potential conventional zones encountered were in various Atoka and Morrow areas.

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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.
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