Torchlight Energy Announces Board Member Changes
PLANO, Texas, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Torchlight Energy Resources, Inc. (TRCH) ("Torchlight" or the "Company") today announced the addition of an independent member to its Board of Directors, Mr. Robert Lance Cook. Additionally, Mr. R. David Newton will be stepping down from his position on Torchlight’s Board for personal reasons. With this change Torchlight will have five directors including three independent members.
Mr. Robert Lance Cook has more than 40 years of experience in the oil and gas industry where he held senior positions with Shell Oil as a Wells Engineer. Mr. Cook retired from Shell in 2016 after 36 years of service. He most recently held position as Chief Scientist for Wells and Production Technology. Cook helped conceive and develop the Sirius Well Manufacturing System (SWMS) JV; a Joint Venture company between Shell and China National Petroleum Company that builds specialized oilfield equipment for large scale development programs such as a 500 well Canadian development where well costs were halved compared to their previous conventional costs. Cook’s role as Chief Scientist at Shell involved advising the Senior Executives on technical issues and working with leading internal and external scientists to help Shell stay at the forefront of energy technology innovation. A brief highlight video about Mr. Cook may be viewed on Shell’s website linked here. During his career Mr. Cook has also been credited with over 100 oil and gas industry inventions which may be reviewed under the patents list for those applications linked here.
“We would like to welcome to Mr. Cook to the Board of Directors of Torchlight,” stated John Brda, CEO of the Company. “His level of expertise is unparalleled in the oil and gas industry and it has been a pleasure to work with him as a consulting service provider on our Orogrande Project. His intimate familiarity with our undertaking coupled with his vast experience will be profoundly impactful to the development of our assets and the process now underway to identify the best suitors or partners for our projects.”
“We also wish to extend our heartfelt thanks to David Newton for his years of service to Torchlight and our shareholders. His insight has been impactful to every significant decision we have made, and it has been a pleasure to get to know and work with him. Our gratitude goes with Dave as he shifts his focuses, his input to us will be greatly missed.”
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 has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. 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.