SOURCE: Streetwise Reports

Streetwise Reports

March 18, 2016 09:00 ET

The Energy Report Interviews Dallas Salazar

Updates Torchlight's Progress on Operations and The Orogrande Project

SAN FRANCISCO, CA--(Marketwired - March 18, 2016) - The low price of oil has meant that a lot of companies are going broke, but not so with Torchlight Energy Resources Inc. (NASDAQ: TRCH). A subsidiary of an $11 billion dollar NYSE company is spending $50 million, fully funding the development of Torchlight's Orogrande project over the next 24 months.

Torchlight Energy is out with an update that comes roughly 30 days after the company updated venture investors that it had decided to move on from the successful drilling and data capture of its Rich A-11 well, up to that point its primary valuation-driving well in the all-important Orogrande project. This new update is more comprehensive; Torchlight Energy updated investors as to progress being made regarding its Marcelina Creek and Orogrande projects, as well as provided a merger-and-acquisition update regarding its Hunton assets, which are currently being marketed.

Regarding the Marcelina Creek Project:

Progress is being made on all fronts in the Marcelina, with Torchlight updating the Johnson #1, #2 and #4 wells. It's important to keep in context Torchlight's overall lack of maturity and overall lack of scale when reviewing the following updates. Put simply, Torchlight is able to continue to…

Continue reading this interview: Torchlight Energy: Unlocking Value Into the Oil Bear

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Torchlight Energy Resources Inc. is a banner sponsor of Streetwise Reports. Opinions expressed are the opinions of Dallas Salazar and not of The Energy Report or its officers. Mr. Salazar is responsible for the content of the article. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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