Torchlight Energy Resources, Inc. (NASDAQ: TRCH) is a high growth oil and gas exploration and production company.
1. What area is the primary focus for the company in the near future?
We are aggressively drilling PUD locations both in our operated and non-operated plays. This will lead to increased cash flow, increased reserves, and holding acreage for future development
2. How is the company divided between exploration and production?
Currently 100% of our drilling efforts are in proven in field locations. We will begin to de-risk our Orogrande Basin asset in early 2015.
3. The company holds interests in Texas, Oklahoma, and Kansas which specific targets are you currently working on?
South Texas targets the Austin Chalk and Buda formations. Central Oklahoma targets the Horizontal Hunton formation. SW Kansas is targeting the vertical Mississippian play. Central Kansas is targeting the Maquoketa Dolomite play. And finally, our new Orogrande project is targeting a stacked pay including the WolfPenn formation.
4. What is the current oil production?
Approximately 600 BOPD (Barrels of Oil Per Day).
5. How does the company plan on financing continued acquisition and exploration?
A combination of Cash flow, debt issuance, and/or equity…as needed.
6. Do you have joint venture participation with major oil producers and developers?
Yes – Ring Energy and Husky Ventures.
7. Could you describe the future scope and growth potential of Torchlight?
With over 3500 drilling locations, already paid for and in house, we have decades of drilling inventory to some of the hottest plays in the US today. We are actively increasing our drilling activity and increasing our daily BO produced. We are in a high growth mode with the likelihood of production doubling year over year, through the next several years.
For more information about Torchlight Energy Resources, Inc., please visit: www.TorchlightEnergy.com
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