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.

Expert Comments:

Clive Maund,

"Torchlight Energy Resources Inc. is looking attractive here. Last week, encouraged by the strong oil price, which broke out to new recent highs, it broke out of a base pattern that approximates a head-and-shoulders bottom. . .following the breakout move last week, a tiny bull flag appears to have formed on Thursday and Friday, which also suggests renewed advance."

With the merger, Torchlight Energy Resources shareholders will have the benefit of oil and gas assets plus a new cleantech focus.
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Clive Maund,

"Torchlight Energy Resources Inc. is a hot stock right now, and the reason is that it has just announced a merger with Metamaterials. . .it is thought worth buying here for a rapid continuation of the move short term. . .the maximum target is the resistance at $2."

headshot of John White

John White, ROTH Capital Partners

"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."

John White, ROTH Capital Partners

"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."

More Expert Comments

Experts Following This Company

Michael Heim, CFA, Senior Research Analyst – Noble Capital Markets
Clive Maund –
headshot of John White
John White, Senior Research Analyst – ROTH Capital Partners

Company News

6/25/2021 – Torchlight Announces Payment of a Special Series a Preferred Stock Dividend, a 1:2 Reverse Stock Split and Planned Closing of the Arrangement Agreement With Metamaterial, Inc.

6/21/2021 – Torchlight Provides Update on Proposed Business Combination Timing and Payment Date for Preferred Stock Dividend

6/14/2021 – Torchlight Declares Special Dividend of New Series A Preferred

6/11/2021 – Torchlight Announces Results from Special Meeting of Its Stockholders

5/25/2021 – Update on Proxy Solicitation for Special Meeting of Stockholders for Metamaterial Transaction

5/7/2021 – Torchlight Files Definitive Proxy Statement for Special Meeting of Stockholders for Metamaterial Transaction

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Investing Highlights
Exposure to the largest onshore domestic hydrocarbon field discovery in over thirty years.
Numerous oil asset liquidation potential + tech company upside post-merger (multiple shots on goal)
Very liquid name and dirty energy story transitioning to clean-tech green focus
catalyst Calendar
Merger with disruptive Tech Company Metamaterials (Q2 2021)
Dividend of Preferred share to all common holders of record date around merger closing (Q2 2021)
Upside from newly listed tech company and sale proceeds of any oil and gas assets distributed to SHs
Torchlight Energy Resources Inc. Content