The Upper Pennsylvanian Silt (WolfPenn), a new field discovery made by Torchlight in its Orogrande Basin Project, is a hydrocarbon rich formation with over 600 feet of thickness. Following the Wolfpenn discovery, Torchlight hired a team of petroleum scientists, led by Mike Zebrowski, to examine the incongruous results of the gas well from a formation that clearly appeared liquids-rich. After significant research, Zebrowski and team concluded that the Wolfpenn displayed a dual porosity system similar to both the Wolfbone and Wolfberry Plays of the Permian Basin.

In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field operations on the Orogrande Project. The company intends to be back to work on two very important projects during the month of May, or as soon as the Governor lifts his Stay-At-Home Order. "The safety of our operations team, as well as the field personnel of the service companies, is our first priority," stated John Brda, CEO of Torchlight Energy.

John Brda has been the CEO of Torchlight Energy Resources, Inc. (NASDAQ:TRCH) since 2014. This report will, first...

If you own shares in Torchlight Energy Resources, Inc. (NASDAQ:TRCH) then it's worth thinking about how it contributes...

In addition, Torchlight has granted the underwriters a 45-day option to purchase up to 15% additional shares of common stock at the public offering price, less offering expenses, to cover over-allotments, if any. Aegis Capital Corp. is acting as sole book-runner for the offering.

PLANO, TX / ACCESSWIRE / April 9, 2020 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH ) ("Torchlight" or the "Company") , today announced that it has received approval from University ...

The planned frac is an attempt to break through the dual porosity system and expand pore access in the oil window of the Pennsylvania Silt Zone encountered during drilling. A single-stage frac is being employed to show the potential for commercial oil production from the target zone. The Company has also finished the drilling phase of the Founders A25 #2 well and is currently running a full suite of drilling logs and sidewall cores.

In addition, the Company also expects to grant to the underwriter for the offering a 45-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering to cover over-allotments, if any. The Company intends to use the net proceeds for general business purposes, which may include drilling capital, acquisitions of assets and working capital.

Company To Discuss Recent Pennsylvanian Silt Oil and Gas Recoveries PLANO, TX / ACCESSWIRE / February 26, 2020 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH ) ("Torchlight" or the "Company") ...

John Brda, CEO of Torchlight will be giving the presentation and answering questions from investors. "We are delighted to be hosting our third virtual event in order to showcase some of the truly unique names in micro-cap" stated Chris Lahiji, President of LD Micro.

PLANO, TX / ACCESSWIRE / May 18, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) (the "Company"), an energy company engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States, today announced the pricing of an underwritten public offering of 3,000,000 shares of common stock at an offering price of $0.34 per share for aggregate gross proceeds of $1,020,000, prior to deducting underwriting discounts, commissions and other offering expenses. The Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any. Torchlight Energy Resources, Inc. intends to use the net proceeds from the offering primarily to meet its drilling obligations at the Hazel Project and Orogrande Project and for general corporate purposes.

The maturity date of the subject promissory note has been extended for one year, from April 10, 2020 to April 10, 2021. As part of the terms of the referenced extension agreement, the Company paid the noteholder a fee of $80,000.

The transaction immediately eliminates $7.5 Million in debt for the Company and brings Torchlight's Working Interest in the Project to 66.5%. The suitors for a large asset like the Orogrande Project consider 20-year-plus time horizons for development plans, the supply and demand relationship and associated commodity prices.

Torchlight has extended $8.5 million with related parties to the previously announced $4.0 Million extension and also have agreed to extend for one year, until April of 2021. "This is another positive step for Torchlight and show of support from our capital partners," stated John Brda, Torchlight's CEO.

Following a discontinuous contractor schedule during the holidays, Maverick Operating installed tubing and an electric submersible pump in the last four days and has begun pumping back frac fluid load on the Cactus A35 #1H well. Intake pressure remains over 1000 psi and the Company is anticipating increased hydrocarbon content as the frac load and intake pressure both decline. "We are very encouraged to be seeing oil and gas shows from this well early in the frac flowback process," stated John Brda, Torchlight's CEO.

The company’s recent success in the Orogrande basin and its strong, private-equity-like business model are not factored into its current price levels Continue reading...

PLANO, TX / ACCESSWIRE / November 7, 2019 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today announced that management has recorded a technical walk through with consulting engineer Mike Zebrowski do discuss scientific data including well logs and plans to frac the recently drilled Cactus A35 1H lateral in the Company's Orogrande Basin Project. The webcast of call recording will be available at the following link posted to the Company's website. The recording will cover details regarding the previously announced Cactus A35 1H well which was drilled horizontally, extending from the vertical test well formerly drilled by Trail Mountain targeting deeper pay zones.

The well reached total depth at 7623 feet and encountered several conventional pay zones as well as drilling through the unconventional Wolfcamp, Penn, Barnett and Woodford zones. Torchlight previously had confirmation on the Wolfcamp and Penn formations but this is the first time the Company and its operator Maverick Operating have drilled through and confirmed the presence of the Barnett and Woodford formations directly on its lease.

PLANO, TX / ACCESSWIRE / October 31, 2019 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today announced that in concert with ongoing efforts to identify, provide scientific data and enter an agreement with potential suitors for development of the sizable Orogrande Basin Project development, the Company has completed the drilling of the Cactus A35 1H lateral with partner Maverick Operating and is underway on drilling a new vertical test well, the Founders A25 #2. The Cactus A35 1H well was drilled horizontally, extending from the vertical test well formerly drilled by Trail Mountain, which was targeting deeper pay zones. The original casing set by Trail Mountain was an appropriate size for Torchlight to re-enter, cut a window and drill directionally into the proven Penn Section that the Company announced as a New Field Discovery earlier this year.

PLANO, TX / ACCESSWIRE / May 20, 2020 / Torchlight Energy Resources, Inc. (TRCH), an energy company engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States, today announced the closing of its previously announced underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $0.34 per share, which included the full exercise by the underwriter of the over-allotment option of 450,000 shares. Copies of the final prospectus supplement and accompanying prospectus related to the offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think-equity.com.