Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Company's First Wolfcamp Well Demonstrates 'Successful Logging and Oil Shows'

Source: Streetwise Reports

 

November 29, 2018 (Investorideas.com Newswire) A ROTH Capital Partners report reviewed the implications of these preliminary results.


In a Nov. 20, 2018, research note, ROTH Capital Partners analyst John White reported that Torchlight Energy Resources Inc. (TRCH:NASDAQ) completed drilling of its A11 #2 well in the Orogrande Basin. "It is important to note this is the company's first well to test the Wolfcamp formation and potentially opens up a new oil and gas play separate from the previously tested Pennsylvanian," he added.

White relayed the well findings and the next step for the energy company.

The A11 #2 was drilled to a vertical depth of 4,009 feet, and casing was set. Electric logs show excellent oil and gas potential in multiple intervals with the presence of both oil and gas," White highlighted. "These intervals represent potentially economical formations." Core samples are currently being analyzed.

The primary zone that was targeted was a Wolfcamp unconventional, 190-feet thick from 3,800 feet down to about 3,990 feet. The company will complete this 190-foot interval using cutting edge stimulation technology "to show the viability of movable hydrocarbons," explained White.

Next for Torchlight, White noted, will be drilling of University Hueco A39 #1 vertically beyond 3,200 feet to test for additional Wolfcamp intervals previously encountered in Rich A11 #2.

ROTH has a Buy rating and a $1.75 per share target price on Torchlight. This represents more than a potential double as the stock is currently trading at around $0.67 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Torchlight Energy Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Torchlight Energy Resources. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) 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. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torchlight Energy Resources, a company mentioned in this article.

Disclosures from ROTH Capital Partners, Torchlight Energy Resources Inc., Flash Note, November 20, 2018

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Within the last twelve months, ROTH has received compensation for investment banking services from Torchlight Energy Resources, Inc.

ROTH makes a market in shares of Torchlight Energy Resources, Inc. and as such, buys and sells from customers on a principal basis.

A Research Analyst and/or a member of the Analyst's household own(s) debt or equity securities of Torchlight Energy Resources, Inc. stock.

Shares of Torchlight Energy Resources, Inc. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

Within the last twelve months, ROTH has managed or co-managed a public offering for Torchlight Energy Resources, Inc.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.


OilandGasStockNews.com- investing ideas in oil and gas stocks

Like Oil and Gas Stocks? View our Oil and Gas Stocks Directory

Get News Alerts on Energy Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp