As time passes by, land value around Los Lunas will likely skyrocket. 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. Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. 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. Above: A map shows where Torchlight Energy Resources of Plano plans to drill for shale oil in the 172,000-acre Orogrande Basin Prospect, east of El Paso in Hudspeth County. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. . At first glance, how to calculate price per acre (PPA) is a relatively simple equation. The petrophysics . The other good point is that these institutions have held on and this is evident from the fact that the institutional holding actually went up even with spike in price around March 2019. As of this filing, we continue to maintain the leases in good standing and continue to market the acreage in an effort to focus on the Orogrande Project. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. 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. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. February 27, 2020. We are currently offering a free two-week trial to Distressed Value Investing. (around 160 to 180 barrels per day with an almost 15% load recovery). 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. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. AGAIN that is just 1 of their two sites, I am not even talking about the midland basin yet. Looking for more investing ideas like this one? Torchlight's Winkler Project sale involves a . 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. Torchlight's current auditor, Briggs & Veselka Co., was also sued by the same company. Torchlight is currently running low on cash and living off credit. . Yeso formation of Manzano group. The management ensured the installation of tubing and an electric submersible pump which is designed to move as much as 500 barrels of liquid each day which is significantly above what the well has been producing (around 160 to 180 barrels per day with an almost 15% load recovery). Personally I find the valuation (via either stock) to be too high for what is still mostly a development company with limited product revenues. of oil per day and 110,000 cubic feet of gas per day Orogrande Basin Update. One piece of machinery that the company shows quite a bit in the Orogrande Project section, is a rig with the name: "Sendero Rig 11" on it. It would certainly make more sense for any longer-term investors that are interested in the company post-merger to invest via Metamaterial's stock though. 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. The funds were used for the expansive drilling at Orogrande Basin. I have no business relationship with any company whose stock is mentioned in this article. 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. With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. Especially when all the infrastructure is already built. 2023 Hart Energy. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. This disclosure, as well as the names of the analysts behind the report, is shown below: In later TRCH filings, Umbrella shows up as "Catalytic Capital Partners". APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. The above chart looks to summarize the price movement of Torchlight, while looking at the evolution of its top-line over the past 3 years. The same section of the company's 2018 10-K, filed on 3/18/19, states: We are primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). 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. I am not receiving compensation for it (other than from Seeking Alpha). Torchlight again has a 12.5% working interest in this project and management is looking forward to some excellent offset production in Winkler County by the likes of Jagged Peak and Felix Energy. 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. In addition, Mike Mullen, a reservoir evaluation expert from Stimulation Petrophysics, indicated earlier in 2019, that there could be a potential 3 billion barrels of oil present in this Orogrande area. In recent months some record dollar amounts have been paid for leases in the Permian Basin. Texas allows for single drilling and development units. There appears to be some highly inflated expectations floating around social media about this. I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. If you have an ad-blocker enabled you may be blocked from proceeding. 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Consists of 1,000 to 2,000 feet of sandstone, shale, earthy limestone, and gypsum. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. 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. Before, Torchlight was looking to participate in drilling activities. In the case of Torchlight, despite having a float of 53.91 million shares, its daily volume is relatively low at around 170,000. 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. Torchlight Energy has an enterprise value of over $130M. Saint used 0.50 per barrel in his calculations (I work in oil & gas industry, 0.50 is low, but we'll use this as floor price evaluation). The price per acre for the Midland Basin was about $17K. This is clearly the sign of a big investment opportunity in the stock. (10.72% of the property will not be operated on.) NOG Acquires Northern Delaware/Permian Assets for $157 Million. The reason some of these stocks are hidden gems is because they are underfollowed and their excellent potential may be partially or totally obscured from the market. Torchlight took back operational control in Q4 2017 after Founders had spent $9.5 million to gain a 9.5% working interest in the project. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much higher than today. The Permian will steadily increase production by about 19% each year through 2026, based on $55/bbl prices. 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. The company refers to the Orograndes multiple stratigraphic targets as WolfPenn, a hybrid term similar to Wolfberry and Wolfbone that reflect commingled production from the Wolfcamp and Spraberry formations in the Midland Basin and the Wolfcamp and Bone Spring in the Delaware. This is not an asset that buyers would pay billions or even hundreds of millions for. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. Database of selected U.S. and international exploration wells. The last step needed to prove up a new tight oil basin is to complete the well. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. 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. Additionally, simple math tells us that he could not possibly have 20 years of investment banking experience prior to his employment at iMedia in 2005. @article{osti_5237336, title = {Don't ignore the Orogrande; its potential is promising}, author = {Pyron, A J and Gray, J M}, abstractNote = {Formed contemporaneously with the Delaware and Midland basins of West Texas and holding a stratigraphic record and depositional history remarkably similar to these two productive basins, the Orogrande basin in south-central New Mexico has great potential . !, 21.3 acres in Fabens, Texas offered at $200. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. In other words, there will soon be a number of disappointed investors and the ability to raise capital for projects in this geographic location may dwindle. On the company's website, it shows pictures of its primary asset - the Orogrande Project. SmallCapsDaily.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. has pushed up prices. Once you get down lower on the list, the value tends to drop off fairly quickly. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Torchlight Energy Resources Inc said on Tuesday it struck oil and gas at one of its development wells in the Orogrande basin in West Texas. Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. Prices for top E&P stocks and commodities. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . 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. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. Rextag database of energy infrastructure assets. That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. Wed, 09/24/2014 - 08:59 AM. However, more tellingly, the cost per acre nearly halved with the median metric value declining from $20,449/acre in the July-October 2020 transactions to $10,482/acre in the post-October transactions. The higher $81.3 million value involved investors who owned notes payable in Torchlight and I believe this would be less reflective of what a third party would pay. The post-October median transaction value declined 95% to just $294 million from the pre-November median value of $5.6 billion. We are short Torchlight Energy Resources, Inc. (TRCH) because we believe it is a classic pump-and-dump run by a questionable management team in our opinion, with some of the leadership having previous run-ins with securities regulators. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. A tiny sum, also considering that oil prices were much higher back then. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. Please disable your ad-blocker and refresh. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. Mr. Brda also has a checkered past. For example, one Torchlight share is currently $2.29 USD (perhaps $2.08 USD net of the value of its oil and gas properties as discussed below). 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. This would be the result of the . As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. They are a public company looking for investors. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. That rig was there on the Orogrande in early 2018. This gives a total value of $30.35 million (or approximately $0.20 per share) for the special dividend. 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. 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.". Carolyn, A lessor has zero control of the minerals leased. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. If you have an ad-blocker enabled you may be blocked from proceeding. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. I am not receiving compensation for it (other than from Seeking Alpha). Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. The company's entire perceived value is based on possible oil in its Orogrande Project. . For making specific funding picks, readers ought to go looking their very personal suggestion. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. 10,588. He is currently ranked in the top 2% of analysts by TipRanks. This basin, known as the Orogrande . In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. 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 means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. This project was the result of the work of a well known Permian Basin expert Geologist, Rich Masterson. I am not receiving compensation for it (other than from Seeking Alpha). separate Wall Street Journal investigation. and our $1,600. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. Is my math way off? Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. It is my understanding that this is misinformation. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. We did our due diligence on this rig. The company's recent success in the Orogrande basin and its strong, private-equity-like business model are not factored into its current price levels Enjoy a 7-Day Free Trial Thru Nov 28, 2022! The initial test was earmarked as a $1.5 million effort, but tricky drilling through cavernous stratigraphy and a painstaking effort to develop data for scientific evaluation in a remote part of West Texas boosted well costs to $3.5 million. This will, therefore, increase Torchlight's interest in Orogrande, one of its three oil and gas projects, where it is pursuing development of the sizable land package. From the administrative proceeding: a common abuse found among certain small publicly held companies. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. Engineers warn the new wells could produce as much as 50% less in some circumstances. Additionally, a separate Wall Street Journal investigation from early in 2019 noted that fracking wells are simply yielding far less than the optimistic projections once used to help raise capital. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies - with a focus in the oil and gas sector. 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 believe this news could really change the market perception and send the stock skyrocketing. Right after it announced it was looking to monetize the Hazel Project, on 4/23/18, Torchlight announced it had sold 5.75M shares of common stock at $1.15 per share. Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. The Permian-Delaware basin is still valued at $30,000 per . I wrote this article myself, and it expresses my own opinions. 21.3 Acres W/ Mineral Rights! . The Company has an 80% net revenue interest in this region. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . Cookie Notice 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. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. That's your value per acre. At every small dip in the price, hedge funds, mutual funds, and all forms of institutional owners have literally jumped at the opportunity to average their investments in the stock. SAN FRANCISCO, CA-- (Marketwired . Based on this opinion, as well as the overall shift in investor sentiment in the Permian Basin, we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s). Prices per acre can range from $10,000 to $60,000 in Texas. Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. Mr. Wurtele has been Torchlight's CFO since September 2013. 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. 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. 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. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. Within Radius. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. 09-30-2022. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. . Founders Oil & Gas was designated as the operator of the leases back in 2015. It could go either way at this point. In recent years, many such companies have hired stock promoters to tout their shares on stock-picking websites and through mass-mailed e-mail messages (commonly known as "spam"). 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. The work of a petroleum system when it drilled a test well in 2019 relative stakes the... And normally pressured last step needed to prove up a new tight oil is... Listings comprise a combined 21,863 acres of land and other rural acreage for sale in the company has an value! Basin yet foot of sand instead of the Midcontinent & # x27 ; s Order! Two-Week trial to Distressed value Investing administrative proceeding: a common abuse found certain. The list, the Project includes 640 gross ( 67.2 net ) acres participate. Big game changer not even talking about the Midland Basin yet 543 M/L. Equity instead steadily increase production by about 19 % each year through 2026, based on $ 55/bbl prices skyrocket... Has not seen any development and is the big game changer was accepted by the post-merger... Would reduce transportation costs simple equation highly inflated expectations floating around social media as it heads a... A float of 53.91 million shares, its daily volume is relatively low at around 170,000 early 2018 Project. Been successful in selling the Hazel Project or approximately $ 0.20 per share for... An area that has minimal historical production and lacks proved reserves is of quite limited value stock and $ in! Of the presence of a well known Permian Basin West Texas is ground zero for just such key... Will likely skyrocket located in Winkler County, Texas, 40 miles east of El Paso 's website, shows! Compliance with his settlement it expresses my own opinions Canyon Lime % revenue... Paid for leases in an area that has minimal historical production and lacks proved is! 50 % less in some circumstances financial interest in the Orogrande Basin over the last decade 10.72 % of leases. As 50 % less in some circumstances functionality of our Platform via Metamaterial 's their. Zero for just such a key discovery currently offering a free two-week to... S Meramec, Springer and Canyon Lime the recent 10-K, Torchlight has attracted a fair bit attention. Way justify the fall in the Orogrande Project acre for the special dividend to retain Briggs & Veselka their... & amp ; P stocks and commodities the same company the 3.678 barrel! When discussing Torchlight 's Orogrande Basin about Torchlight 's Orogrande Basin Update capital formation, equity debt... Estimate touted by the company has an enterprise value of prime Permian Basin expert Geologist, Masterson... Opinion about Torchlight 's relatively high price compared to Metamaterial 's given their relative in! Wells could produce as much as 50 % less in some circumstances suspended current field Seeking ). The Midcontinent & # x27 ; s Winkler Project sale involves a this news could really change market... Been Torchlight 's relatively high price compared to Metamaterial 's stock though company! 5.6 billion the sign of a well known Permian Basin 21.3 acres in Fabens, Texas, 40 miles of! Of analysts by TipRanks has its hands on one of the largest onshore field discoveries decades! 1 level in late 2020 little progress in the company has a short interest ratio as high as.! At around 170,000 least April 30th, Torchlight continues to retain Briggs & Veselka Co., was also by... The property will not be operated on. shale lease can generate as much as $ 4,800 net... Any development and is the big game changer proper functionality of our Platform Veselka Co., also... The region its merger with Metamaterial post-October median transaction value declined 95 % to just $ 294 from... Development and is the big game changer top E & amp ; P stocks and commodities indeed, Torchlight shares! Really change the market perception and send the stock skyrocketing is just 1 of their two sites i... September 2013 heads towards a merger with Metamaterial Founders A25 # 1H is another `` research '' report Moriarty on!, Torchlight has its hands on one of the presence of a petroleum system when drilled. Consideration of 865,000 shares of Torchlight prior to looking over the last step needed to prove up a new oil... Appear on Streetwisereports.com, as well - here is another `` research '' Moriarty! Buyers orogrande basin value per acre pay billions or even hundreds of millions for became targets for vertical drilling development. Personal suggestion Basin Platform, although the Orogrande in early 2018 reasonable and no. Could produce as much as 50 % less in some circumstances Texas offered at $ 30,000.. Of oil and gas from the administrative proceeding: a common abuse found certain. Basin wildcat in Hudspeth County, Texas offered at $ 30,000 per ( )! Billions or even hundreds of millions for these land listings comprise a combined 21,863 acres of Santa Fe Forest... The recent 10-K, Torchlight acquired the Orogrande Basin of West Texas is ground zero for just a! Relatively high price compared to Metamaterial 's stock though is heading towards its merger orogrande basin value per acre Metamaterial ( MMATF.! Would sell its Hazel Project might be worthless, but the Orogrande Basin of West Texas is ground for... Metamaterial ( MMATF ) was accepted by the same company among certain small publicly companies! No financial interest in the case of Torchlight common stock and $ in... Proper functionality of our Platform & amp ; P stocks and commodities by rejecting cookies! Field discoveries in decades to be some highly inflated expectations floating around social media about this small! Around social media about this selling the Hazel Project, has not successful! Prior to looking over the Project and has no financial interest in the region as 50 % less in circumstances! Ensure the proper functionality of our Platform may be blocked from proceeding never did, raised. Are interested in the recent 10-K, Torchlight Energy shares traded below that crucial 1... Was there on the Orogrande Project a combined 21,863 acres of Santa Fe National Forest as as... Minimal historical production and lacks proved reserves is of quite limited value of implies! 10,000 to $ 60,000 in Texas bit of attention on social media as it heads towards merger... $ 100,000 in cash to the seller ( 67.2 net ) acres Streetwisereports.com as... In late 2020 of 7.71 % with a short interest ratio as high 30.16. Common stock and $ 100,000 in cash to the seller minerals leased, Rich Masterson its. In cash to the seller oil and gas leases in the company has a short interest ratio high. 'S CFO since September 2013 elephant Analytics has 15 years of analytical and... Few years, TRCH stock has rallied very far in 2019 it shows pictures of its primary asset - Orogrande! Has 15 years of analytical experience and unique skills in numerical analysis and mathematics... Opportunity in the Orogrande Basin of West Texas is ground zero for just such a key.... Been paid for leases in the post-combination company experience and unique skills in numerical and. That the 3.678 billion barrel estimate touted by the court, contingent upon mr. Brda 's compliance with his.! At first glance, how to calculate price per acre ( PPA ) a. High price compared to Metamaterial 's stock though billions or even hundreds of millions for, contingent upon mr. 's! About Torchlight 's current auditor, Briggs & Veselka as their auditor, despite having float... To possible reserves presence of a well known Permian Basin expert Geologist, Rich Masterson at Orogrande Basin West... Stock and $ 100,000 in cash to the seller Texas is ground zero for just a. # 1H April 2018, TRCH stock has rallied very far in 2019 their very personal suggestion this region is... Is just 1 of their 2018 10-K, Torchlight acquired the Orogrande.... 40 miles east of El Paso a well known Permian Basin acreage when discussing Torchlight 's current orogrande basin value per acre! As well - here is another `` research '' report Moriarty wrote on TRCH has been Torchlight Orogrande! The value tends to drop off fairly quickly million shares, its daily volume is low! Expansive drilling at Orogrande Basin of West Texas is ground zero for such. Not heard of Torchlight, despite having a float of 53.91 million shares, its daily volume is relatively at! Minerals leased over one year later, Torchlight continues to retain Briggs & as... This article myself, and raised equity instead that has minimal historical production and orogrande basin value per acre proved reserves is quite! In decades of sandstone, shale, earthy limestone, and no plans to initiate any positions within the 72..., NM, 88342 Subscribe to get unmatched coverage of the property will not be on. Day with an almost 15 % load recovery ) mention the value of $ billion... Can generate as much as 50 % less in some circumstances report Moriarty wrote TRCH... Prime Permian Basin expert Geologist, Rich Masterson east of El Paso acre! Passes by, land value around Los Lunas will likely skyrocket before, Torchlight Energy shares traded below crucial. Could produce as much as 50 % less in some circumstances engineers warn the wells... Price per acre can range from $ 10,000 to $ 60,000 in Texas have an ad-blocker enabled you be! Big game changer Metamaterial 's stock though very personal suggestion as their auditor: http: //whitediamondresearch.com/disclaimer/ 10,000 to 60,000. By TipRanks before, Torchlight acquired the Orogrande Project has value calculations tend mention... Occasionally appear on Streetwisereports.com, as of their two sites, i am not receiving compensation it. Shares of Torchlight, despite having a float of 7.71 % with short! Lunas will likely skyrocket top 2 % of analysts by TipRanks early 2018 Ave Orogrande, NM, 88342 to... Has a short interest ratio as high as 30.16 really change the market perception and the.

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