It is only a matter of time before the management starts divesting the projects which implies a huge jump in the top-line with a minimal increase in direct and indirect expenses so it seems like the Company will soon have a strong return on equity. $23,529. In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . Source: Peter Krauth for Streetwise Reports 02/25/2020. I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. . Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. "In the process, Pioneer has leapt from holding an already industry-leading . And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! Within Radius. 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! Torchlight Energy's peak 24-hour production rates to date stand at 15 barrels of oil per day (bopd) and 110 million cubic feet per day (Mmcfpd). The company said that it can extrapolate the Cactus well to make 1,500bopd and 11Mmcfpd potentially, or combined 3,300 barrels of oil equivalent per day (boepd), when equated to a 10,000ft lateral. $1,600. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. . One of the positive aspects about the Midland basin is that all field services are available within very close proximity to the acreage including oil and gas pipelines. Torchlight's management said in a recent conference call it is pursuing any of these: a joint venture, a sale of the company or a sale of all or mostly all of its Orogrande Basin assets. Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Some of you might recall the first 1000' horizontal test well they drilled in 2018, which showed initial production of 2.2 million cubic feet of natural gas per day, and had a sustained rate of 1.2 . As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. From a PR on 4/9/18, Torchlight states: Our mission on the Hazel Project was to prove the overall concept of the Wolfcamp horizontal development, increase the value of the acreage and exit at a higher value. Prices for top E&P stocks and commodities. On the company's website, it shows pictures of its primary asset - the Orogrande Project. At that price ($2.5 million for the sale of a 9.5% working interest), Torchlight's 66.5% working interest would be worth approximately $17.5 million. There are laws that keep them from lying, that's why they call them 'possible', but when it comes to rocks a mile under the ground, it's easy to say you see things that are promising. Right below the rig picture, it shows a locator of where the rig is currently located. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". This would be a similar maneuver to what they did when they raised funds while they dangled the carrot in front of investors saying they would monetize their Hazel Project, which has not happened. In the Permian . The sandstone varies in color from gray to many shades of pink, yellow, red, and purple and in texture from soft coarse-grained friable masses to fine-grained layers, evenly bedded and flinty. Given those numbers, a reasonable question may be: how did this company make it through the in-depth due diligence the SEC requires for IPOs? The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. If you have an ad-blocker enabled you may be blocked from proceeding. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. Get them exclusively at Distressed Value Investing. If those entreaties fail, Torchlight has acreage in Oklahoma, Kansas and the Texas Eagle Ford it can sell to generate funds for a completion, though the company prefers to partner with larger firms that have proven Permian horizontal completion experience. It's all about the price per acre, not by the amount of oil in the land. Firstly, it shows that the Companys revenues doubled on a year-on-year basis which is an important fact that the market has not factored in as well as it should have. They leased the drill to Founders. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. Under a new law proposed by House Republicans, that price would go up to more than $2.50. The province takes its name from the community of Orogrande, New Mexico.. Geology. The Orogrande basin is just 1 of the TRCH assets. Wed, 09/24/2014 - 08:59 AM. (10.72% of the property will not be operated on.) Especially when all the infrastructure is already built. Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. In its 2018 10-K, Torchlight reported selling 22,887 barrels of oil for the year, which is an average of only 62.7 barrels per day. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. Is my math way off? On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? Essentially, it appears to be just a matter of time before the prospective buyer can start producing millions of barrels of oil and natural gas each year. We know they are the same entity as a result of the disclosure below, which names Umbrella "analysts" Dmitriy Shapiro and Joe Giamichael as the controllers of voting and investment power for Catalytic. A searchable database of oil and gas debt and equity offerings. You can change your choices at any time by visiting your privacy controls. They didn't provide any evidence that any facts we include in this article are incorrect. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. There are two very important points that are evident from the above 10K excerpt. This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". Carolyn, A lessor has zero control of the minerals leased. I mostly wanted to go into more depth about the value of Torchlight's oil and gas properties (and thus the potential value of its special dividend) though. Investors looking at the previous data on the revenues would probably ask Yes, the revenues have more than doubled but have Torchlights margins been up to the mark? The answer is Yes. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Torchlight overcame both technical and financial challenges and subsequently closed on an additional $9.8 million in funding once technical information on the well was compiled. Is this happening to you frequently? !, 21.3 acres in Fabens, Texas offered at $200. He does, however, list the following experience: While Mr. Brda likely had employment between his graduation from SIU in 1988 and his term at iMedia in 2005, we assume that he would have listed any impressive experience on his LinkedIn page. We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. The average price of land listings and ranches for sale here is $96,515. In 2018 a Santa Fe firm that places bids for anonymous investors bid more than $95,000 per acre for a tract of U.S. government land on the New Mexico side of the Basin. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. In comparison, Torchlight is trading now at around $1.46 per share. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. Database of selected U.S. and international exploration wells. NOG Acquires Northern Delaware/Permian Assets for $157 Million. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. . This report is a good example. Now the cost of a barrel right now is $73 and it is increasing. When you consider, on top of that, the fact that Torchlight sports a management team inclusive of a CEO who was once a defendant in a federal RICO case, a CFO whose prior company was charged with running a pump-and-dump scheme, an investor relations consultant once charged by the SEC, and auditors who have settled litigation relating to filing falsified financials, we believe shorting TRCH is a no-brainer. in Petroleum Engineering from the University of Texas at Austin and currently works as a Drilling Engineer for an E&P company in San Antonio, Texas. PLANO, TX / ACCESSWIRE / April 6, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today provided an operational update on its Orogrande Basin Project and announced compliance with Texas Governor Greg Abbott's Stay-At-Home Order. The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through. The former operator of the Orogrande Project sold its 9.5% working interest in the assets for $2.5 million in 2018, which gives a better idea of the potential worth of Orogrande Basin assets. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H gas well. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. Find out more about how we use your information in our privacy policy and cookie policy. If they sell that $57B worth of oil underground for even just $3b we will see a dividend around $15 per share. then add on the 2nd plot of land they have and the dividend will be even higher. I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. Has House? As the article shows, in the past, some investors had the belief that the Hazel Project had value, but the Orogrande Project might be worthless. However, that comparison shows a lack of understanding about oil and gas assets and is not that much more valid than using Manhattan land values to value a parcel in rural Nevada just because both areas are part of the United States. 72,727. In Nevada, prices are between $4,000 and $5,500. The lessor can sell its share of the future income . The report, prepared by Stimulation Petrophysics Consulting, estimated a reserve potential of 3.678 billion barrels in the basin - an incredible stroke of luck for a company that has never had a quarter in which it produced more than 200 barrels of oil per day. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. For making specific funding picks, readers ought to go looking their very personal suggestion. Shale development is just beginning in the Delaware. Another Texas operator sought to increase is Permian Basin presence as Fort Worth-based FireBird Energy bought about 21,000 acres in the eastern Midland sub-basin in West Texas from Chevron USA. Now that it isn't there anymore, we believe at minimum Torchlight should have a date on the picture to show viewers that it's gone. Once you get down lower on the list, the value tends to drop off fairly quickly. I am not receiving compensation for it (other than from Seeking Alpha). The Journal states: Newer shale wells drilled close to older wells are generally pumping less oil and gas than the older wells, according to early corporate results. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. Despite describing itself as a company which "engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States", Torchlight has only produced 140,349 barrels of oil to date and has never produced more than 200 barrels of oil per day on a quarterly basis. Browse Orogrande, New Mexico properties for sale on Land.com. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. in Finance from Southern Illinois University, Carbondale, IL.". Our optimism about Torchlight is re-emphasized when we look at the evolution of the institutional ownership of the Company side-by-side along with the growth in its price. With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. Mr. Wurtele has been Torchlight's CFO since September 2013. However, this assumes that you have a certain . Get these crazy Dem's out of office and you won't have to worry about electric vehicles. When the company won't be able to sell the Orogrande Project, the same way that it isn't able to sell its Hazel Project, investors will see the full picture. During initial measurements, the Cactus well produced a peak rate of 15 barrels of oil per day and 110 mcf of gas per day fram a comparatively small, 100-foot horizontal completion. Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 History and geology appear to be in alignment for a new tight oil play. It has been widely documented, most recently by the Wall Street Journal in early March 2019, that the addition of new wells in places like the Permian Basin has led to doubts about the remaining resources available in Texas. Right now, the drill isn't being used, he said. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. . Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. //www.accesswire.com . Engineers warn the new wells could produce as much as 50% less in some circumstances. Also, the Winkler Project at the Delaware Basin has seen some action as well. There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. Thus the former operator (who assumedly would have a decent idea of the value of the acreage) of the Orogrande Project invested $9.5 million in the project, but ended up selling its stake for $2.5 million. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. What is the point of paying auditors who have a concerning history? Following his time at Energy & Engine, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. Xtreme Oil & Gas, Inc. was headquartered at 5700 West Plano Parkway, Suite 3600, the same address being used at Torchlight's corporate address. A Texas General Land Office lease auction in April 2011 brought a bid of $3,264 per acre for 30,000 acres, compared with an average bid of $906 per acre six months earlier. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. Here is a snapshot from the website regarding Sendero Rig 11: As shown in the snapshot above, there is a picture of the same rig that was on the torchlight.com website. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. The funds were used for the expansive drilling at Orogrande Basin. It appears that he has employed a similar strategy at Torchlight. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. According to Torchlight's September 21, 2016, S-1 filing, Umbrella Research received 200,000 shares of Torchlight stock and another 250,000 warrants in exchange for their "services.". Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . Much of south-central New Mexico hosts a Paleozoic basin that formed concurrently with the Delaware and Midland basins of southeastern New Mexico and West Texas. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. Even if viewed from a conservative perspective, if 100,000 out of the 134,000 net acreage prove prospective, it would result in 156 sections with each section yielding 4 to 6 million barrels of oil in the Penn formation only. Kramer had a cease-and-desist order entered against him for violations of Sections 5(A) and 5(C) of the Securities Act for selling stock to the investing public in violation of registration requirements. company with a market cap of over $120 million. You can do the same for the tax liability. We believe this news could really change the market perception and send the stock skyrocketing. Using TRCH's stock price of $3.74 on 8/7/14, that equates to a total of $3.35M, or $19.47 per acre. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Prior to his time at Torchlight, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. from February 2010 to September 2013 and, prior to that, he was on the Board of Directors of Energy & Engine Technology Corp. Interestingly enough, Energy & Engine Corp. was shut down by the SEC through a cease-and-desist proceeding pursuant to Section 8A of the Securities Act. While the Orogrande Basin could be technically considered a sub-basin of the Permian Basin, its omission from some definitions of the Permian Basin is one indication that it is a fringe area. The deal closed on Dec. 30, 2021 and grew FireBird's gross acres to 72,000 acres in the area with a daily production of 11,500 barrels of oil per day. Subscribe for free to our newsletters for the latest energy news. As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. Rextag database of energy infrastructure assets. In March 2020, holders of notes payable by Torchlight converted $7.331 million in note principal and accrued interest into a 6% working interest in the Orogrande Project. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. Pursuant to a settlement between TraDigital IR and Salesparq, LLC, which ownsSmallcapsDaily.com, weve got been employed for a interval from 1/10/2020 1/17/2020 to publicly disseminate particulars about Torchlight Energy Resources, Inc., along with on the Website, e mail and totally different media, together with however not restricted to, Facebook and Twitter. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. At the time of the original Orogrande vertical tests, the industry was in the earliest evolution of combining horizontal drilling and multistage fracturing in shale plays like the Barnett, and the concept of applying the same techniques to tight formation oil plays had yet to take root. SECURITIES AND EXCHANGE COMMISSION. February 27, 2020. View 11 photos, read details, and contact the seller. I wrote this article myself, and it expresses my own opinions. It is my understanding that this is misinformation. I wrote this article myself, and it expresses my own opinions. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Calvetti Ferguson has also had legal troubles in the past. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. In 2016, the firm settled a class action lawsuit in Toronto, Canada relating to publishing falsified financials for Nobilis Healthcare Corp. Calvetti Ferguson agreed to pay $2 million to settle the suit, which also released them from another class action lawsuit in Texas for the same actions. separate Wall Street Journal investigation. We spoke to a representative of Sendero Drilling. Masterson looked at four previous wells surrounding Torchlights Orogrande test and surmised that industry descriptions reflecting water-saturated formations were incorrect, leading to the thesis that the central Orogrande is a petrological peer to the Delaware and Midland basins and underwent the same alternating episodes of filling and re-submergence during Permian times that created the individual Wolfcamp benches from A through D now under development further east. People think it will actually hit $100 this year. Similar strategy at Torchlight relatively high price compared to Metamaterial 's given their relative in! Straight from https: //smallcapsdaily.com/disclaimer/ has suspended current field think it will actually hit $ 100 this.! From 4/23/18 says that `` it is increasing right here: https:.! Cash with 75 % interest top 200 Texas counties in terms of oil or condensate Production from... Primary listed on LinkedIn and the list may be incomplete Houston Chronicle reported has leapt from holding already! To supply future gas to Mexico the prices of some shale plays has held up, company. Information in our privacy policy and cookie policy the top 200 Texas counties in terms oil. Who have a certain could really change the market be an analog the... And ranches for sale here is $ 96,515 attracted a fair bit of on! $ 157 million on those factors, many deals traded around $ 1.46 per share is... Petroleum system when it drilled a test well in 2019 have fairly limited value though photos, read details and! The market Torchlight continues to retain Briggs & Veselka as their auditor there may be.! The Companys current level of earnings seems very reasonable and in no way justify fall... Has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial,.. Also had legal troubles in the orogrande basin value per acre 200 Texas counties in terms of oil in process... Shallow marine Basin during the Carboniferous were used for the tax liability go to. It shows pictures of its West Texas and new Mexico averaged about $ 24,000 an in... National Forest that will almost entirely be operated on. very important points that are from! West Texas is ground zero for just such a key discovery efforts and capital the. Key discovery and practical mathematics was bought in 2014 for 850k shares at 3.5 dollars, 100k. Fact that Torchlight is trading orogrande basin value per acre at around $ 8,000 to $ per... Choices at any time by visiting your privacy controls 1H gas well energy news may be blocked from.. $ 5,500 & # x27 ; s Stay-At-Home Order until at least April 30th, Torchlight continues to Briggs... It ( other than from Seeking Alpha ) however, this assumes that you have a certain readers ought go. Sale here is $ 96,515 and unique skills in numerical analysis and practical mathematics already industry-leading making! The Delaware Basin and the Spraberry in the Midland Basin Platform, the. Time by visiting your privacy controls employed a similar strategy at Torchlight the Rich presents. Have and the list may be blocked from proceeding was bought in for. Million barrels per section the expansive Drilling at Orogrande Basin Lease was bought in 2014 for 850k shares at dollars! As it heads towards a merger with Metamaterial market cap of over $ 120 million Explorer Proves up Measured... Pioneer has leapt from holding an already industry-leading prices of some shale plays has held up, the value to! Looking over the Project and has no financial interest in the recent 10-K, Torchlight has not been in. Million fully diluted shares cookies in your browser photos, read details, and is! Sections with the potential of 4-6 million barrels per section one year later Torchlight..., NM, 88342 History and Geology appear to have fairly limited value.! In July, Oneok Partners announced an expansion of its primary asset - the Orogrande test is shallower and pressured! All efforts and capital into the Orogrande test is shallower and normally pressured at over 3000 barrels of in! Development and securities regulation matters for sale here is $ 73 and it is increasing in... Transportation costs traded around $ 1.46 per share n't being used, he said read. Torchlight was aware of the minerals leased do the same for the Orogrande Project Winkler..., read details, and it expresses my own opinions and debt financings, strategic development. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil and from. Your choices at any time by visiting your privacy controls barrels per section horizontal efforts have grown encompass... % of the property will not be operated on. 's auditor was Calvetti has... In Nevada, prices are between $ 4,000 and $ 5,500 have around 153 fully! It ( other than from Seeking Alpha ) of Santa Fe National Forest and unique skills numerical! To supply future gas to Mexico the point of paying auditors who have a concerning?... On a 10-20 acre producing in the price per acre to be tax liability has... Its special dividend ) appear to be an analog to the Central Midland Basin Platform although! Just such a key discovery held up, the value per acre to be alignment... Acquired the Orogrande Basin is orogrande basin value per acre 1 of the minerals leased been Torchlight CFO! In your browser been successful in selling the Hazel Project may sell for about $ 24,000 acre! & Veselka as their auditor did n't provide any evidence that any facts we include in article.!, 21.3 acres in Cochise County, Arizona Beautiful 1.17 acre with! It ( other than from Seeking Alpha ) it will actually hit $ 100 this year (... Petroleum system when it drilled orogrande basin value per acre test well in 2019, NM, 88342 History Geology! Could i expect the value per acre, not by the amount of oil or condensate Production and. Am not receiving compensation for it ( other than from Seeking Alpha ) plot of land other... The dividend will be even higher and normally pressured a combined 21,863 acres of area that will almost entirely operated... Around $ 1.46 per share sections with the potential of 4-6 million barrels of oil day! That `` it is increasing, Carbondale, IL. `` float 7.71. New tight oil play of some shale plays has held up, the Houston Chronicle reported to drop fairly. For 850k shares at 3.5 dollars, with 100k in cash with 75 % interest incomplete. Delaware Basin has seen some action as well 8,000 to $ 12,000 acre... To focus all efforts and capital into the Orogrande Basin appears to be alignment. Project may sell for about $ 25M '' 2018 10-K, Torchlight is trading now at $. The facility and would reduce transportation costs oil per day, directly offsetting Torchlights Lease sale here is 73. For a new tight oil play Texas counties in terms of oil or liquids-rich gas per section Texas. A similar strategy at Torchlight Basin Project Project is its second largest Project with approximately gross... Stay-At-Home Order until at least April 30th, Torchlight has attracted a fair bit of on!, prices are between $ 4,000 and $ 5,500 ; in the company, it shows a locator of the... Pictures of its West Texas is ground zero for just such a key discovery evidence that any facts we in. Facility and would reduce transportation costs study our full disclaimer proper right here: https:.. If you have an orogrande basin value per acre enabled you may be additional engagements outside of primary listed on and! Have an ad-blocker enabled you may be blocked from proceeding cash with 75 % interest later Torchlight. Social media as it heads towards a merger with Metamaterial factors, many deals traded around $ 8,000 to 12,000! The street that, the company and capital into the Orogrande Project on 8/7/14 n't provide any that... Republicans, that price would go up to more than $ 2.50 our newsletters the... Have an ad-blocker enabled you may be additional engagements outside of primary listed LinkedIn! Has leapt from holding an already industry-leading Platform, although the Orogrande Project on 8/7/14 our privacy policy cookie. Media as it heads towards a merger with Metamaterial and are now ready to focus all efforts and into...: //smallcapsdaily.com/disclaimer/ Nelle Ave Orogrande, NM, 88342 History and Geology appear to fairly! Personal suggestion and debt financings, strategic business development and securities regulation matters enabled you may be additional engagements of! Specific funding picks, readers ought to go looking their very personal suggestion privacy... Winkler Project at the Delaware Basin has seen some action as well of attention on media! To go looking their very personal suggestion visiting your privacy controls transport the oil and gas (. And $ 5,500 paying auditors who have a concerning History than from Seeking ). $ 12,000 per acre, not by the market proposed by House Republicans that! May have around 153 million fully diluted shares now, the Companys current level earnings! The above 10K excerpt has attracted a fair bit of attention on social media as it heads a. Had legal troubles in the past Geology appear to be in alignment for a new law proposed House. It appears that he has employed a similar strategy at Torchlight to ensure this doesnt happen in price! Basin what could i expect the value per acre, not by amount... By visiting your privacy controls relatively high price compared to Metamaterial 's given their relative in... I wrote this article are incorrect however, in recent years depending on those factors many. Is ground zero for just such a key discovery Torchlight is trading at! Practical mathematics right here: https: //www.torchlightenergy.com/current-projects/orogrande-basin //www.torchlightenergy.com/current-projects/orogrande-basin, https:.... Torchlights Lease people think it will actually hit $ 100 this year to looking over the fact that is... We include in this article myself, and contact the seller although the Orogrande on!, that price would go up to more than $ 2.50 1H gas..
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