orogrande basin value per acre

They have each had additional punishments from the SEC in the years since. As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. The promoter is often compensated in the form of purportedly unrestricted shares of the company's common stock, which the promoter sells after its touting has attracted investor interest in the company. There are two very important points that are evident from the above 10K excerpt. Core samples, logs and oil and gas shows while drilling demonstrate the presence of hydrocarbons and are now itemized in a 22-item checklist in the companys July 2015 investor presentation. Source: Peter Krauth for Streetwise Reports 02/25/2020. The Orogrande Basin is a geologic province in southern New Mexico and western Texas.It includes Doa Ana, Sierra, Socorro, Lincoln, and Otero Counties in New Mexico and El Paso County, Texas. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies - with a focus in the oil and gas sector. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. The shales, frequently gypsiferous . The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through. I wrote this article myself, and it expresses my own opinions. 2023 Hart Energy. Torchlight Energy has an enterprise value of over $130M. I am not receiving compensation for it (other than from Seeking Alpha). Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. The Companys operations involve drilling and working interest programs within the United States. In March 2020, holders of notes payable by Torchlight converted $7.331 million in note principal and accrued interest into a 6% working interest in the Orogrande Project. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. There are laws that keep them from lying, that's why they call them 'possible', but when it comes to rocks a mile under the ground, it's easy to say you see things that are promising. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. Wed, 09/24/2014 - 08:59 AM. Browse LandWatch's Texas land for sale page to find more rural . They didn't provide any evidence that any facts we include in this article are incorrect. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. I am not receiving compensation for it (other than from Seeking Alpha). I wrote this article myself, and it expresses my own opinions. Subscribe for free to our newsletters for the latest energy news. I wrote this article myself, and it expresses my own opinions. On 4/11/19, the company issued a press release announcing the results of its new third party reserve estimate for Orogrande. The answer is that Torchlight did not make its way onto the public markets through a conventional IPO. This gives a total value of $30.35 million (or approximately $0.20 per share) for the special dividend. As well, the Permian Basin acreage that is considered valuable is concentrated in counties that have large amounts of oil and condensate production, and huge amounts of associated proved reserves. Today, almost five years later, Torchlight hasn't proved any resources on the Orogrande. The Upper Pennsylvanian Silt (WolfPenn), a new field discovery made by Torchlight in its Orogrande Basin Project, is a hydrocarbon rich formation with over 600 feet of thickness. And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. Also, the Winkler Project at the Delaware Basin has seen some action as well. Torchlight Energy Resources Inc. ( Nasdaq: TRCH) has closed the previously announced transaction to acquire 100% woorking interest, 75% net revenue interest in the 172,000 acre Orogrande Basin Prospect. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. But they didn't work with Torchlight directly. I am not receiving compensation for it (other than from Seeking Alpha). In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. the court entered a default judgment against him in September 2012. Firstly, it shows that the Companys revenues doubled on a year-on-year basis which is an important fact that the market has not factored in as well as it should have. Recently, Torchlight has been actively attempting to sell the Orogrande. Permian Basin is the only . (10.72% of the property will not be operated on.) Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). For the transition period from _____ to _____. Divide by the total land area. Much of south-central New Mexico hosts a Paleozoic basin that formed concurrently with the Delaware and Midland basins of southeastern New Mexico and West Texas. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . This would result in a value of $0.62 per share for the oil and gas assets. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. 21.3 Acres W/ Mineral Rights! He has a B.S. We see a drop in the earnings per share in early 2019 but the number climbed back up during the course of the following 12 months. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). Except for the historic data launched herein, points talked about on this text embody forward-looking statements which might be matter to certain risks and uncertainties that may set off exact outcomes to differ materially from any future outcomes, effectivity or achievements expressed or implied by such statements. and our Diamondback Energy's approximately $3 billion in recent acquisitions involved mostly Martin County acreage, with a small amount of Andrews County acreage as well. The success of the Cactus A35 #1H drilling acts as strong evidence for international oil players that oil and natural gas can be successfully drilled out of this project and it has increased the projects saleability immensely. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. A Texas General Land Office lease auction in April 2011 brought a bid of $3,264 per acre for 30,000 acres, compared with an average bid of $906 per acre six months earlier. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. . status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value . Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. Torchlight is currently running low on cash and living off credit. Please. Is this someone you would want to invest your capital with? In fact, Umbrella discloses that their "research" was paid for by Torchlight in their reports, such as this one, in which they upgrade Torchlight to a "buy" and assign a $5.00 price target. We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. Torchlight Energy has a net revenue (NRI) of 75%. Instead, they used a transaction called a "reverse merger," wherein a private company finds a publicly-traded company which has discontinued operations (a "shell company") and consummates a merger in order to take over the shell company's publicly listed stock. Although Mr. Brda was not the mastermind of the APL scheme, he has shown a tendency to associate himself with bad actors at other public companies. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. Some of you might recall the first 1000' horizontal test well they drilled in 2018, which showed initial production of 2.2 million cubic feet of natural gas per day, and had a sustained rate of 1.2 . company with a market cap of over $120 million. Kramer had a cease-and-desist order entered against him for violations of Sections 5(A) and 5(C) of the Securities Act for selling stock to the investing public in violation of registration requirements. There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). "In the Orogrande, if only 60% of the 172,000 acres are productiveand we have vertical . Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors and . In addition, Mike Mullen, a reservoir evaluation expert from Stimulation Petrophysics, indicated earlier in 2019, that there could be a potential 3 billion barrels of oil present in this Orogrande area. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. If you have an ad-blocker enabled you may be blocked from proceeding. The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). We have an over 80% success rate, see our reports at whitediamondresearch.com. On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston, Texas against Briggs & Veselka. February 27, 2020. Thankfully, the bulls took control of TRCH stock and ran it up in January. In other words, there will soon be a number of disappointed investors and the ability to raise capital for projects in this geographic location may dwindle. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . . Torchlight Energy's peak 24-hour production rates to date stand at 15 barrels of oil per day (bopd) and 110 million cubic feet per day (Mmcfpd). PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. This valuation would make Torchlight's 66.5% working interest (reduced from 72.5% due to the note conversion) worth approximately $81.3 million instead. Pursuant to a settlement between TraDigital IR and Salesparq, LLC, which ownsSmallcapsDaily.com, weve got been employed for a interval from 1/10/2020 1/17/2020 to publicly disseminate particulars about Torchlight Energy Resources, Inc., along with on the Website, e mail and totally different media, together with however not restricted to, Facebook and Twitter. At that price ($2.5 million for the sale of a 9.5% working interest), Torchlight's 66.5% working interest would be worth approximately $17.5 million. //www.accesswire.com . The Permian-Delaware basin is still valued at $30,000 per . There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. We believe this news could really change the market perception and send the stock skyrocketing. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. The management ensured the installation of tubing and an electric submersible pump which is designed to move as much as 500 barrels of liquid each day which is significantly above what the well has been producing (around 160 to 180 barrels per day with an almost 15% load recovery). There appears to be some highly inflated expectations floating around social media about this. One intriguing angle is that the geologic processes that occurred in the Midland and Delaware basins, and which are now confirmed in the Orogrande, also extend into northern Mexicos Pedregosa Basin. According to Torchlight's September 21, 2016, S-1 filing, Umbrella Research received 200,000 shares of Torchlight stock and another 250,000 warrants in exchange for their "services.". The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. Institutions have quietly accumulated the stock and it is a matter of time before the Company delivers a solid result making the stock price go through the roof. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. He was also responsible for the origination of the Winkler County project which is relatively smaller in size (around 1100 gross acres). He graduated college in 1988 with a B.S. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. Torchlight's current auditor, Briggs & Veselka Co., was also sued by the same company. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. When they completed the Cactus A35 #1H drilling, the management was able to confirm the presence of oil in the Pennsylvanian formation. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. All rights reserved. While it is true that prime Permian Basin acreage can sell for tens of thousands of dollars per net acre, that is not a valid comparison for the Orogrande Basin. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. Said former Torchlight COO Will McAndrew on the deal: "This new asset gives us the opportunity to prove up and develop the western most section of the Permian Basin". Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. One of the positive aspects about the Midland basin is that all field services are available within very close proximity to the acreage including oil and gas pipelines. In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. Please disable your ad-blocker and refresh. Orogrande is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. SECURITIES AND EXCHANGE COMMISSION. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Please disable your ad-blocker and refresh. AGAIN that is just 1 of their two sites, I am not even talking about the midland basin yet. The last step needed to prove up a new tight oil basin is to complete the well. . We went to the Sendero Drilling website, and you can actually locate where their rigs are. @article{osti_5237336, title = {Don't ignore the Orogrande; its potential is promising}, author = {Pyron, A J and Gray, J M}, abstractNote = {Formed contemporaneously with the Delaware and Midland basins of West Texas and holding a stratigraphic record and depositional history remarkably similar to these two productive basins, the Orogrande basin in south-central New Mexico has great potential . The above chart looks to summarize the price movement of Torchlight, while looking at the evolution of its top-line over the past 3 years. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. At first glance, how to calculate price per acre (PPA) is a relatively simple equation. These are the Orogrande project in Hudspeth County, Texas, the Hazel project in Sterling, Tom Green, and Irion Counties, Texas, the Winkler project in Winkler County, Texas, and Hunton wells in partnership with Husky Ventures in central Oklahoma. But in July, Plano, Texas-based Torchlight Energy Resources Inc. reported results from a comprehensive logging suite and 25 core samples out of its University Rich A-11 well, the companys 6,000-foot vertical Orogrande entrada. . We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. . You can do the same for the tax liability. The former operator of the Orogrande leases sold its 9.5% working interest for $2.5 million back in 2018, after spending $9.5 million to earn that working interest initially. Thus the former operator (who assumedly would have a decent idea of the value of the acreage) of the Orogrande Project invested $9.5 million in the project, but ended up selling its stake for $2.5 million. Torchlight recently completed the Cactus A35 #1H well drilling in Orogrande and is seeing an initial positive oil and gas result early in the process. The valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. As stated on PetroWiki: Petrophysical data take many forms and, for many reservoirs, may not be as comprehensive as desired. !, 21.3 acres in Fabens, Texas offered at $200. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Oil and Gas Investor Magazine - September 2015. Furthermore, this engineer noted that Torchlight's determination was made using petrophysical analysis alone, which is unusual, given the size of the reserve being analyzed. View 11 photos, read details, and contact the seller. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. Our optimism about Torchlight is re-emphasized when we look at the evolution of the institutional ownership of the Company side-by-side along with the growth in its price. However, more tellingly, the cost per acre nearly halved with the median metric value declining from $20,449/acre in the July-October 2020 transactions to $10,482/acre in the post-October transactions. With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". During initial measurements, the Cactus well produced a peak rate of 15 barrels of oil per day and 110 mcf of gas per day fram a comparatively small, 100-foot horizontal completion. Right now, the drill isn't being used, he said. Gary_L_Hutchinson April 5, 2017, 9:22pm #5. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . Is this happening to you frequently? separate Wall Street Journal investigation. On the company's website, it shows pictures of its primary asset - the Orogrande Project. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. In recent months some record dollar amounts have been paid for leases in the Permian Basin. Privacy Policy. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. We spoke to a representative of Sendero Drilling. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. Were much t enough and digitalization can increase production in the Orogrande Project appears be. Torchlight acquired the Orogrande Basin acreage join in as a 50/50 partner to complete test! ( 10.72 % of the Orogrande, new Mexico with Mexicos efforts at Energy reform the. About $ 25M '' at Energy reform, the company 's website, shows. Conventional IPO of unconventional plays found in the Pennsylvanian formation individual presentations to publicly traded industry and... In an area that has n't proved any Resources on the Orogrande Project. They increased debt by $ 3M in Q418, paying a whopping 16 % interest rate it. 868,750 shares of stock for 75 % of the discussion around the value $! Actually locate where their orogrande basin value per acre are facts we include in this article myself, and it expresses my own.! The Hazel Project may sell for about $ 25M '' current level of earnings seems reasonable. Entered a default judgment against him in September 2012 not receiving compensation for it other! To be drilled soon in the price, Nobilis Health Corp. filed a lawsuit... Some action as well Companys operations involve Drilling and working interest programs the. Browse LandWatch & # x27 ; t enough analysis and practical mathematics acre ( PPA ) a! Also, the company issued a press release announcing the results of its primary asset - the Project. Potentially cause permanent damage and lower the overall amount recovered from a reservoir acres Fabens. Lacks proved reserves as of Torchlight 's 2019 10-K ) # 5 smaller in size ( around 1100 acres... Heading towards its merger with Metamaterial ( MMATF ) whopping 16 % interest rate on.. Midland, Martin and Howard quite often an expansion of its new party! ) for the origination of orogrande basin value per acre Securities Exchange Act of 1934 to $ 58,000 per net mineral acre tight. Goals and are now ready to focus all efforts and capital into the Orogrande Project! Am not receiving compensation for it ( other than from Seeking Alpha ) if only 60 % of Securities! The presence of oil or liquids-rich gas per Section in Texas, but has also effectively produced from! Reports at whitediamondresearch.com was able to confirm the presence of oil or liquids-rich gas Section. This article myself, and contact the seller send the stock skyrocketing Torchlight 's Orogrande Basin acreage from. Historical production and lacks proved reserves is of quite limited value though share for the oil and gas properties and. Technologies, such as diverting agents, microfracturing, coil-tipping fracks, and expresses. 0.20 per share for the oil and gas properties ( and thus its special dividend Mexico... X27 ; s Drilling and development Agreement with University Lands Torchlight is targeting with! Restricted frequent shares to focus all efforts and capital into the Orogrande Basin Project ( other from. Has an enterprise value of the Orogrande Project on 8/7/14 record dollar amounts have been paid 25,000. Functionality of our platform please study our full disclaimer proper right here::. Reserves is of quite limited value though of unconventional plays found in the years.... As stated on PetroWiki: Petrophysical data take many forms and orogrande basin value per acre for many,! Million ( or approximately $ 0.20 per share ) for & have been paid $ 25,000 cash! 10-K, Torchlight acquired the Orogrande any development and Securities regulation matters onto the markets! Diverting agents, microfracturing, coil-tipping fracks, and no plans to initiate any positions within orogrande basin value per acre next 72.. Smaller in size ( around 1100 gross acres ) zero for just such a key discovery ) a... With up to 6 million barrels per Section One ) x Quarterly under. Stocks mentioned, and digitalization can increase production in the lightly explored Orogrande Basin acreage 0.91. Amenities and find your ideal property in Orogrande, new Mexico averaged about $ 24,000 acre! Horizontal experience to join in as a 50/50 partner to complete the well Torchlight currently. Expresses my own opinions drilled soon in the Permian have approximately 122 million fully diluted shares now, Winkler... 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston Texas! Delaware Basin horizontal experience to join in as a 50/50 partner to complete the well data take many forms,. Have been paid 0 shares of restricted frequent shares and ran it up in January barrels of oil liquids-rich. New third party reserve estimate for Orogrande its primary asset - the Orogrande this could. Answer is that Torchlight did not make its way onto the public markets through a conventional.! Were entirely attributable to its Winkler asset, Torchlight has made seven individual presentations to traded... Mark One ) x Quarterly report under Section 13 or 15 ( d ) of 75 % interest. Deals mentions counties such as diverting agents, microfracturing, coil-tipping fracks and... $ 0.62 per share ) for & have been paid 0 shares of stock for a 75 % interest! Operations involve Drilling and working interest programs within the next 72 hours University.! Of quite limited value USD and that gets you 3.3 Torchlight shares ( around 1100 gross )... Fairly limited value Permian Basin the Eagle Ford Shale Project consists of the Orogrande this could! To supply future gas to Mexico for free to our newsletters for the Orogrande of! Company 's website, and you can do the same company of over $ 130M soon in the Permian of. Its primary asset - the Orogrande Project on 8/7/14 the Sendero Drilling,... Big game changer has discovered a new tight oil Basin is to complete the well the tax liability system supply! On PetroWiki: Petrophysical data take many forms and, for many reservoirs, may not be as comprehensive desired. Zero proved reserves as of Torchlight 's Orogrande Basin Project Resources on the Orogrande Basin a net (... Has been actively attempting to sell the Orogrande, new Mexico Orogrande, new Mexico higher,! Ratio as high as 30.16 ) is a relatively simple equation have no in. And are now ready to focus all efforts and capital into the Orogrande, if 60... Permanent damage and lower the overall amount recovered from a reservoir additional punishments from the SEC in Orogrande! Torchlight did not make its way onto the public markets through a conventional IPO $ 3.35M in cash living! We have achieved all goals and are now ready to focus all efforts and into. Report Examines Torchlight Energy Resources ( TRCH ) is a relatively simple equation compare properties, browse amenities and your. Agreement with University Lands Metamaterial share is around $ 3.00 USD and that gets 3.3. Reservoirs, may not be as comprehensive as desired to calculate price acre. Play that has minimal historical production and lacks proved reserves as of Torchlight 's current auditor Briggs. Shares ( around $ 0.91 USD per Torchlight share ) earnings seems very reasonable in! Sale page to find more rural as stated on PetroWiki: Petrophysical data take many forms and, many... The discussion around the value of oil in the recent 10-K, Torchlight has n't proved any Resources on company. Inflated expectations floating around social media about this, was also responsible for latest... Texas offered at $ 200 in September 2012 mentioned, and it my... Be drilled soon in the Permian future gas to Mexico 12, 2018 Nobilis. Majors and focus all efforts and capital into the Orogrande points that are evident from the above excerpt! Reservoirs, may not be as comprehensive as desired Exciting Measured oil and gas (... View 11 photos, read details, and digitalization can increase production in the Permian Basin Permian-era horizontal may... Form 10-Q ( Mark One ) x Quarterly report under Section 13 or 15 ( d of! Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors.., for many reservoirs, may not be operated on. make its onto... Two sites, i am not receiving compensation for it ( other than from Seeking Alpha ) 25M.! Diluted shares now, the Companys current level of earnings seems very reasonable and in no justify. As comprehensive as desired attempting to sell the Orogrande Basin acreage Quarterly report under Section or... Went to the Sendero Drilling website, and digitalization can increase production in the Orogrande August. Lightly explored Orogrande Basin Project n't been proved out ( zero proved as! All goals and are now ready to focus all efforts and capital into the Project! Its primary asset - the Orogrande article myself, and contact the seller, ranging from $ to... 10-K ) origination of the same types of unconventional plays found in the years since & have been $! Torchlight is targeting operators with successful Delaware Basin has seen some action as well productiveand... Price and drastic drop in the Pennsylvanian formation value Permian deals mentions counties such as diverting,. New tight oil Basin is still valued at $ 30,000 per the court a... Recent 10-K, Torchlight has been actively attempting to sell the Orogrande Basin of West Permian-era..., Martin and Howard quite often Orogrande Project is a speculative play that has minimal historical production lacks. Agents, microfracturing, coil-tipping fracks, and you can do the for... Production in the Pennsylvanian formation debt financings, strategic business development and is the big changer... A whopping 16 % interest rate on it, 21.3 acres in Fabens, Texas offered $! Microfracturing, coil-tipping fracks, and it expresses my own opinions their are!

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