Torchlight Energy Reaches Total Depth on First Orogrande Project Well
PLANO, TX -- (Marketwired) -- 05/11/15 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the Company has reached total depth of 6109 feet on the first test well in its Orogrande project, The University Rich A11.
The University Rich A11 well is a vertical test well targeting the WolfPenn formation and the first of four planned test wells in the Orogrande Project. After drilling, the company logged the potential zones and ran sidewall cores to begin the information gather and review process. Casing was set to a total depth of 5990' and cemented into place.
Over the coming weeks, Torchlight and its team of geological partners, including Rich Masterson, expert geologist and originator of the Orogrande Project, will be analyzing the results to determine the horizontal potential and appropriate completion methods for the well.
"Although early in the process, we are very encouraged by what we have encountered while drilling," commented Torchlight's COO, Willard McAndrew, III. "There are many steps left with this exploratory project and we hope to make a discovery here that is both impactful and economical for the Company and shareholders."
About Torchlight Energy
Torchlight 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 currently holds interests in Texas, Kansas and Oklahoma where their targets are established plays such as the Eagle Ford Shale, Mississippi Limestone and Hunton Limestone trends. For additional information on the Company, please visit www.torchlightenergy.com.
Forward Looking Statement
This 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.
Source: Torchlight Energy Resources, Inc.