Torchlight Spuds First of Next Three Wells Planned in Its Orogrande Basin Project
31 Octubre 2018 - 6:00AM
Torchlight Energy Resources,
Inc. (TRCH)
("Torchlight" or the
"Company") today announced that the Company has
spudded the first well of the next three planned wells for the
Company’s Orogrande Basin Project with its operator Maverick
Operating and its drilling partner Wolfbone Properties.
The first well to be drilled is the University Rich A11 #2. The
well will be a twin to Torchlight’s Rich A11 #1 well drilled in
2015. Torchlight experienced difficulties during the drilling
of the Rich A11 #1 and it was ultimately determined that the cement
job on the casing had failed. As a result of data gathered from
that process, Rich Masterson has
identified five distinct Wolfcamp
unconventional targets ranging in thickness from 86 feet to
160 feet. The Company will drill, log, core, and test this geologic
concept to produce evidence that these zones spread out over a
significant portion of its acreage block.
About Torchlight EnergyTorchlight Energy
Resources, Inc. (NASDAQ: TRCH), 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 has assets
focused in West and Central Texas where their targets are
established plays such as the Permian Basin. For additional
information on the Company, please visit
www.torchlightenergy.com.
Forward Looking StatementThis news release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements involve risks and
uncertainties that could cause actual results to differ materially
from those described in such statements. Such forward-looking
statements involve known and unknown risks and uncertainties,
including risks associated with the Company's ability to obtain
additional capital in the future to fund planned expansion, the
demand for oil and natural gas, general economic factors,
competition in the industry and other factors that could cause
actual results to be materially different from those described
herein as anticipated, believed, estimated or expected. The Company
is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
Investor Relations Contact Derek Gradwell MZ
Group SVP Natural Resources Phone: 512-270-6990
Email: dgradwell@mzgroup.us Web: www.mzgroup.us
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