Torchlight Energy $TRCH
TURN KEY OIL CONSIDERATIONS
Torchlight Energy Resources Inc. ($TRCH)has continued to perform both in the oil fields and in the markets through the second half of this year. With improvements in both the management suite as well as in the portfolio of projects; the company has been making the kind of choices that we like to see. With analyst targets exceeding even some of the stocks latest gains there seems to be good reasons for additional optimism. Another aspect of Torchlight that we like is that they continue to release information that is substantive rather than persisting in that same old trope of bantam energy producers of issuing press releases and crossing fingers. Having said that we always want to be mindful of inevitable consolidation and profit taking but with strong fundamentals and smart people making the decisions there is a lot to like about Torchlight for the foreseeable future.
- Solid business plan that includes wells in areas of historical production that have never been exploited with modern stimulation techniques.
- Approximately 10,000 gross acres that have never been fracked and a well, the Hoffman 1-H within the greater Lindsborg Field area in Kansas.
- Acquires Wilson County acreage in the Eagle Ford, Austin Chalk and Buda Limestone fairway.
- $5M investment through multiple round financing completed.
- Drills first Buda Limestone well and produces 40 BOPD ~
- Drills first Austin Chalk well and produces 130 BOPD ~
- Now produces 57,000 BOPY or $5,000,000 gross per year ~
- And investors are still holding 50%-150% gains.
Torchlight Energy Resources, Inc. (OTCQB: 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 currently holds interests in Texas, Oklahoma and Kansas where their targets are established plays such as the Eagle Ford, Hunton, Mississippian and Maquoketa Dolomite / Viola formations.
CEO – Tom Lapinski Has been an outstanding manager in the oil and gas industry during his 44 year career with a portfolio of qualifications. He has been recognized not only for his superior corporate leadership which is manifest in confidence, perseverance and in creating a vision that promoted success, but in his technical and analytical skills as well. Following graduation from the Colorado School of Mines with a Professional Engineers Degree in Geophysical Engineering, he joined Amoco Production Company in Denver, Colorado and spent the next 30 years rising through its ranks. His career has been split nearly in half between domestic and international programs as well as corporate strategic planning.
Director – Wayne Turner is presently the Managing Partner of, JEBCO Seismic, LP, a position he has held since 1989, and is the Managing Partner of Big Thicket Oil & Gas, L.P., a position he has held since 2001. Mr. Turner took over management of JEBCO in 1989, when he bought into the company. JEBCO is a fully independent international geophysical data acquisition contractor. Jebco’s non-exclusive surveys and third party datasets represent a unique and readily available source of information for both mature and frontier regions. JEBCO has operated both offshore and onshore in Canada and the U.S. JEBCO has also conducted surveys in the North Sea, Africa, Asia, and South America. One of JEBCO’s most significant accomplishments was signing an agreement with the Ministry of Geology in the USSR in 1989. The company was active in Russia, Kazakhstan, Uzbekistan, and Azerbaijan (before and after the break-up of the USSR). The company provided oil and gas exploration information to the industry, assisted in license rounds, and assisted in direct negotiations for oil and gas properties in these countries.
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