Orogrande Basin

Hudspeth County, TX

  • Torchlight owns 47.5% working interest upon full $50 mm spend commitment from operating partner, Founders Oil and Gas. - 133,000 acres
  • Targeting 1300’ of pay – described as WolfPenn
  • Primary Pay zone is Pennsylvanian at 5200-6100
  • Pay zone depths – 4000’ to 6100’
  • Oil and high BTU gas – 80/20 mix expected
  • Basin formed at the same time as Delaware and Midland basins
  • Lease covers majority of the basin in Texas
  • University Lands with excellent lease terms (5 yr. with 5 yr. extensions - single drilling unit on University Block)
  • If 100,000 acres prove prospective - project would yield 156 Sections
  • Based on analogous Midland Basin EUR’s – potential EUR’s of 4 to 6 million barrels per section
  • Well known Permian Basin expert Geologist, Rich Masterson originated the Wolfbone Play and developed thesis for the Orogrande Basin (WolfPenn)