Torchlight Energy Resources, Inc. (OTC: TRCH) Penny Stock on Fire!

logo

TRCH is a fast moving Penny Stock!

When Torchlight Energy Resources, Inc. (OTC: TRCH) first started trading on the OTCBB in February 2011, fresh off the name change from Pole Perfect Studios, Inc., it was trading at around $4 per share. This was followed by a significant drop to lows of well under $1 with a support level established around $0.90.

Since then and especially over the past few months TRCH has taken off like a rocket recently surpassing the $4 per share mark. Investor sentiment on the boards remains highly positive with many investors suggesting that this one goes much higher still.

Torchlight Energy Resources, Inc., 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.

TRCH has really come into its own as a Junior Oil & Gas play in recent months; the Company has been rapidly expanding and diversifying and now has a significant number of projects underway including:

OTCMAGIC HAS A MONSTER PICK COMING! (Subscribe right now)

Marcelina Creek Project, Wilson County, TX – The Marcelina Creek Project lies just a few miles north of the Karnes/Wilson County line just SW of Poth, Texas. The play involves the upper cretaceous formations and is highly sought after for its Austin Chalk, Buda, and Eagle Ford formations. We are currently producing from three of the pay zones on the lease:

The Cimarron Project, Logan and Kingfisher County, OK – is located north of Oklahoma City in the Edmonds Field.  The target formation is the Paleozoic age Hunton Group that has been the leading oil producing formation in Oklahoma.  In the area, there are also numerous shallower objectives as well.  The project area is approximately 3,700 acres and Torchlight has a minimum of a 15% working interest.

Ring JV, Haskell, Gray and Finney counties, KS – Torchlight Energy has entered into a joint venture agreement with Ring Energy (NYSE MKT – REI) for exploration and exploitation in the giant Hugoton Field area of Kansas.  Under the terms of the agreement Torchlight will match Ring’s expenditure for leases by drilling wells.  Once the drilling expenditures match the lease costs Torchlight will have earned 50% in the entire 17,000 + acre block.

Chisholm Trail, Kingfisher County, OK – The Paleozoic age Hunton Group is the primary target formation with numerous shallower objectives as well. The project area is nearly contiguous to the Cimarron project and leads to many operational efficiencies. Torchlight owns 15.3% working interest in 5,110 acres covering the Hunton Limestone development drilling project, Operated by Husky Ventures, Inc.

Smokey Hills, McPherson County, KS – A Mississippian aged carbonate is the target formation and it has produced in the area since the 1960’s from modest depths of less than 4,000 feet. The field, in McPherson and Salina counties, has produced 20 million barrels of oil to date with an estimated 250 million barrels in place. TRCH has a 17.8% interest in 10,000 acres and is evaluating the results of the first horizontal well drilled in this part of Kansas.

Smokey Hills, McPherson County, KS – A Mississippian aged carbonate is the target formation and it has produced in the area since the 1960’s from modest depths of less than 4,000 feet.  The field, in McPherson and Salina counties, has produced 20 million barrels of oil to date with an estimated 250 million barrels in place. TRCH has a 17.8% interest in 10,000 acres and is evaluating the results of the first horizontal well drilled in this part of Kansas.

Salt Water Disposal, Seminole County, OK – As part of the acquisition of Xtreme Oil & Gas, Torchlight acquired an interest in a new salt water disposal facility in the Seminole Field in Oklahoma.  The facility was commissioned in January of 2013 and is capable of disposing of 20,000 barrels a day.  Torchlight has a 25% royalty interest and is the operator.

Ihub poster Jett Link had it right when he posted back in September 2012 "Watch for $2 break for next leg. Updates to the rework in Wilson County and new drilling plans could send this back over $2.50 quickly. Just my opinion."

Conclusion: TRCH has been in a general uptrend since June of 2012 when it jumped over $1 and said goodbye to Penny Land for the final time. The volume and price have really accelerated over the past 3 months however with TRCH more than doubling and seeing its market valuation jump from the $30 million range to well current $60 million market valuation. While TRCH has seen rapid expansion and diversification and still maintain a fairly healthy balance sheet they do continue to lose a significant amount of $ every quarter. That said Investor sentiment is highly positive on this one with most longs suggesting it goes way higher.

OTCMagic also has a new secret report on TRCH, to get it subscribe to OTCMagic right now, also everyone should know, we have something HUGE coming!

Torchlight Energy Resources, Inc.
John A. Brda     
Willard G. McAndrew
torchlightenergy.com
 
STOCK INFORMATION
SYMBOL: OTC: TRCH
Shares Outstanding: 13,779,815
Market Cap: $59,253,204

Torchlight Energy Resources, Inc. (OTC: TRCH) was incorporated in October 2007 under the laws of the State of Nevada as Pole Perfect Studios, Inc.  In February 2011 the Company changed their name to Torchlight Energy Resources, Inc.

home-feat-image3-opt

home-feat-image1-opt

Comments are closed.

Trade U.S. Stocks with

Scottrade TD Ameritrade E*Trade Securities ShareBuilder Charles Schwab