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:

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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The efforts will meet Torchlight Energy Resources' development requirements at Hazel.
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Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."
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Clive Maund, CliveMaund.com

(12/14/20)
"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."

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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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."

More Expert Comments

Experts Following This Company

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

Company News

3/15/2021 – Torchlight Provides Update on Proposed Business Combination Timing

3/10/2021 – Torchlight and Metamaterial to Participate in the 33rd Annual ROTH Conference

2/22/2021 – Torchlight Loans Metamaterial US$10,000,000, Allowing Metamaterial to Execute on Business Plan in Advance of Shareholder Votes

2/16/2021 – Torchlight Senior Secured Lender Converts Remaining $1.5 Million of Senior Debt

2/10/2021 – Torchlight Announces Closing of Underwritten Public Offering of Common Stock for Gross Proceeds of $27.6 Million

2/8/2021 – Torchlight Prices Underwritten Public Offering of Common Stock

2/1/2021 – Torchlight Chairman Converts $1.6 Million of Debt Into Common Stock

1/29/2021 – Torchlight Senior Secured Lender Converts Additional $3 Million of Senior Debt

1/28/2021 – Torchlight Senior Secured Lender Converts Additional $4 Million of Senior Debt

1/25/2021 – Torchlight Regains Compliance With Nasdaq Listing Requirements

1/22/2021 – Torchlight Senior Secured Lender Converts $4 Million of Senior Debt

1/21/2021 – Notice of Intent to Perform Operations Received from Hazel Project Option Holder

The information provided above is from analysts, newsletters, the company and other contributors.

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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
Q2
2021
Merger with disruptive Tech Company Metamaterials (Q2 2021)
Q2
2021
Dividend of Preferred share to all common holders of record date around merger closing (Q2 2021)
Q4
2021
Upside from newly listed tech company and sale proceeds of any oil and gas assets distributed to SHs
Torchlight Energy Resources Inc. Content