TORCHLIGHT ENERGY RESOURCES, INC

Joins Russell Microcap Index - UPDATE

HITS 52 WEEK HIGH THEN CONSOLIDATES - DOUBLES IN SIX MOTHS - SHORTS COVER

Plans To Frac 5000 Ft Section

 Target Price Raised Again To $2.35. - STRONG BUY

In the past 52 weeks, these shares have traded as low as $0.42 and as high as $1.88. Technical traders will take note this recent surge is just the beginning to a far greater upward move. Oil is trending higher.

We expect these shares to retest its 52 week high of $1.88 befor advancing higher

Technical analysts pay close attention to these key indices such as the 52 week high because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as VERY BULLISH. -  Chronicle Business Sets Target At $7.44  -  Short Report -

 

Torchlight Energy: A Billion Barrel Vision Nears Proof of Concept  Recent Article

MORE ON TRCH - NASDAQ  - Seeking Alpha Target $2.50-$3.00

Torchlight Energy Announces Frac Stimulation Completed on Flying B Ranch #3H

PLANO, TX--(Marketwired - September 06, 2017) - Torchlight Energy Resources, Inc. (NASDAQ: TRCH)("Torchlight" or the "Company"), today announced that the frac stimulation has been completed on its Flying B Ranch #3H well.

All 28 stages were delivered per the Company's plan and the coiled tubing unit is now on location to prepare the well for flow back after drilling out the plugs. Torchlight expects flowback to begin immediately following this procedure and that the 350,000 barrels of frac load water used during the stimulation will be extracted before the end of September.

"The team at Maverick and AST did a great job of executing on the frac delivery," stated John Brda, CEO of Torchlight Energy. "We were able to perform the stimulation according to the plan laid out at the onset. We are excited to be entering the flowback period which will ultimately allow us to gauge Initial Production (IP) rates for this well. We look forward to providing our next update as soon as measurable results are available."

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.




Torchlight Energy Announces Frac Underway On Its First Permian Basin Horizontal Well

PLANO, TX--(Marketwired - August 28, 2017) - Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"),today announced that the previously announced frac procedure on its first horizontal well in the Company's Permian (Midland) Basin Hazel Project is underway. Due to a cancellation, the frac crew originally slated for the end of September could move onto location and begin the frac stimulation of the Flying B Ranch #3 well immediately.

The frac stimulation being delivered is designed to contain ~2,000 pounds of sand per foot with over 11 million pounds of sand total and 350,000 barrels of water. The design calls for 29 stages and is expected to take approximately one week to complete. Following the frac delivery, a rig will be brought onsite to drill out the plugs beginning flowback which is expected to commence in the second week in September.

"We are excited to be underway with the frac stimulation of our first horizontal well in our Permian Basin Hazel Project," stated John Brda, CEO of Torchlight Energy. "The impact of initial production after entry into the Permian Basin is significant for Torchlight and has been a measurable milestone for many of our peers. With our significant acreage footprint, we look forward to cashflow impact and developmental plans that will unlock value for our shareholders."

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.

Plans to Frac 5,000-foot Section in Wolfcamp A Formation

PLANO, TX--(Marketwired - July 18, 2017) - Torchlight Energy Resources, Inc. (NASDAQ: TRCH)("Torchlight" or the "Company"), today announced that it has completed the drilling stage of the Flying B Ranch #3H well. The horizontal leg at Total Depth was ~8,300 feet in the Wolfcamp A Bench. Preliminary indications from mud log and gamma ray MWD readings indicated a consistent exposure to the planned pay zone over the entire length of the lateral. The Company plans to employ a 25 stage frac over a 5,000-foot section of the lateral wellbore where casing was successfully set and cemented in place. Frac design will be consistent with the latest technology being utilized by others in the Midland Basin.

"I am pleased with the drilling program delivered by Torchlight's operating partner Maverick on this well," stated Rich Masterson, project Geologist. "We have managed to stay in zone and the logs indicate that we should be able to frac this well in a manner consistent with other Midland Basin wells targeting the Wolfcamp A interval. We encountered good shows of oil in the samples and good gas on the mud log chromatograph."

"We are excited to have completed the drilling phase of our first horizontal well in the Permian Basin and look forward to delivering the frac to bring this well onto production," stated John Brda, Torchlight's CEO. "We are scheduling the procedure on a 'first available' basis and will target the 5000 feet of Wolfcamp A to create a baseline for 'barrels per 1000 feet of lateral' comparisons to other Midland Basin Wolfcamp A completions. Our first-generation stimulation technique will be evaluated and refined for future wells in the project. Ultimately we are targeting maximum production with lowest declines."

While drilling, the Company captured images and video which can be viewed on the Company website at http://www.torchlightenergy.com/current-projects/midland-basin.

Additionally, Torchlight stimulated the Flying B Ranch #2 vertical test well in the Leonard form

 

Torchlight to Commence First Horizontal Well in its Permian (Midland) Basin Acreage

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PLANO, TX -- (Marketwired) -- 06/07/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that it will move a rig onto location this week to commence drilling the Flying B Ranch #3H, the Company's first horizontal well to be drilled on its Permian Basin (Midland Basin) assets. The well is expected to encounter multiple (stacked) pay zones and is planned to have a lateral leg length of 8000 feet targeting the Wolfcamp A formation. Drilling is expected to begin by Sunday and completion procedures including a multi-stage frac are scheduled for late July or Early August. Additionally, Torchlight has scheduled the second and previously announced frac on the Flying B Ranch #2 vertical test well for June 30th and will be targeting the Leonard formation with that procedure.

"We are very excited to get started on our first horizontal well on the Hazel Project in the Permian (Eastern Midland) Basin and ahead of schedule," stated John Brda, CEO of Torchlight. "After drilling two test wells, gathering side wall cores, running all necessary logs and production testing both vertical wells on opposite ends of our lease, it is now time to prove up our horizontal thesis. The location of this well is closer to our Flying B Ranch #1 well on the western side of the lease block. We will target the prolific Wolfcamp A formation which tests have confirmed is potential for horizontal development and employ the latest frac technology to maximize formation exposure and ensure success. By comparison, vertical wells expose ~150 feet of pay per zone where this well will encounter up to 8000 feet of continuous pay in the Wolfcamp A zone by drilling horizontally."

Orogrande Project Update:

The horizontal permit for the University Founders A25 #1 well has been issued. Torchlight's operating partner is preparing site work and contacting vendors. As soon as the specialized rig (capable of drilling with air and mud) is available, the Company will provide an update with definitive spud date for the first horizontal well in Torchlight's Orogrande Project.

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.

Investor Relations Contact 

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: Torchlight Energy Resources, Inc.

Released June 7, 2017


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