|Company: Torchlight Energy Resources, Inc.
Symbol: NASDAQ: TRCH
|Presenter: Willard G. McAndrew, COO|
Occasion: Richmond Club Lunch, Toronto
Torchlight Energy Resources 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 WolfPenn formations.
More About Torchlight Energy
Completely restructured Company. Paid off $17 million of debt, only have $3.5 million of sub debt, bought 168,000 acres in prolific Permian Basin, closed $50 million deal with Founders Oil and Gas (wholly owned sub of a NYSE 12 billion mkt cap company), drilled well in Austin Chalk that tested over 500 BOPD, second well coming on in March, shot 10 miles of 3D seismic with partner Ring Energy (NYSE: REI) on part of our 17,000 acea project in Kansas, sold one project in Oklahoma for $4.6 million, signed Farm In Agreements with two oil companies in South Texas to pay our cost on project and only have 31 million shares issued and outstanding.
To view the recent news of April 5, 2016 “Torchlight Energy Acquires Midland Basin Assets” Click Here
For more detailed information, please visit our website at www.torchlightenergy.com.