SOURCE: Torchlight Energy Resources, Inc.

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September 24, 2013 08:00 ET

Torchlight Energy Announces Peak Rate of 470 BOEPD on the Boeckman 1-14H Well

PLANO, TX--(Marketwired - September 24, 2013) - Torchlight Energy Resources, Inc. (OTCQB: TRCH) ("Torchlight Energy" or "the Company") today announced that the Boeckman 1-14H well, completed in July 2013 in the Hunton formation, has reached a peak production rate of 470 barrels of oil equivalent per day (BOEPD) made up of 382 barrels of oil and 880 MCF of high BTU gas. The well has been on production for the last 60 days and is still cleaning up. Torchlight and its partners in the Cimarron Project, completed a 21 stage frack and began flowback on the well July 24th. This is the 19th well drilled and operated in this area by Husky Ventures, the operator of the project. 

"We are extremely encouraged with the initial results from the Boeckman 1-14H well," stated John Brda, President of Torchlight Energy. "This inaugural well marks our involvement in the Cimarron Trail Project with Husky Ventures and the consummation of a very promising industry partnership. This is the 19th successful well in a row for Husky in this field and our results are in line with the other wells on the acreage. The prolific Hunton formation in this proven field provides exactly the type of derisked play that meets Torchlight's model and we look forward to an aggressive developmental drilling schedule moving forward."

Torchlight Energy has a 15% working interest in the Cimarron Project, located in Central Oklahoma and spanning approximately 3,800 acres. Husky Ventures has successfully drilled 19 wells in this region with Initial Production Rates between 450 and 1,100 BOEPD per well. The Boeckman 1-14H, drilled to a total depth of 7,800 feet with a 4,200 foot lateral targeting the Hunton formation, is a direct offset to another producing well drilled by Husky Ventures. Torchlight Energy plans to participate in the drilling of multiple wells this year out of the more than twenty additional target locations identified on the acreage.

About Torchlight Energy

Torchlight Energy Resources, Inc. (OTCQB: 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, Mississippian and Hunton trends. For additional information on the company, please visit www.torchlightenergy.com.

Forward Looking Statement

The information contained in this news release, other than historical information, consists of 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 may 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 Torchlight Energy'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 general and other factors that may 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.

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