Torchlight Energy Resources, Inc. provides an operational progress update on its Orogrande Basin Project.

Dual Lift Gas System: The Company’s Operator on the Orogrande Project, Maverick Operating, has successfully installed the gas lift system into the University Founders A25 1H wellbore.  The system is designed to assist in the movement of fluids out of the lateral portion of the wellbore, which has been hindered to date due to the high gas content of sections in the heel of the well. This well will be tested over the next sixty days to determine what level of fluid recovery potential exists.

Subsequent Wells: The Company and its partner, Wolfbone Investments, plan to drill two additional wells this year and three in 2019. With this plan in mind, the company has identified two vertical well locations that it plans on drilling to test shallower vertical targets. These targets will fulfill drilling commitments required under agreement with University Lands and if proven up, could add substantial value to the Project. Several shallow targets that show potential oil and gas of sufficient quality to be tested exists on well logs and core samples from previous wells Torchlight drilled in addition to the wells drilled by Trail Mountain. Torchlight has slated initial work on the next wells to begin in October.

“We are gaining volumes of data from the current work being done by Maverick and interpretation provided by Rich Masterson,” stated John Brda, CEO of Torchlight. “We are very excited to be a part of a field discovery that we expect to be transformational for the Company.  We will continue to learn from the A25 flow back and from drilling and completing the shallower zones later this year.  We know a petroleum system is in place as evidenced by the gas production to date and small amounts of fluid recovered. We will continue in our commitment to developing the science in order to prove up oil production, additional pay zones and ultimate size of this asset.”

“Now that we have the A25 discovery well continuing to clean up, our expectation for additional zones being productive in the Orogrande are very high,” stated Rich Masterson, generating geologist of the Orogrande Basin Project. “Generally, when you have a petroleum system in place and a discovery like this, you will find multiple zones of interest that need to be tested.  Continuing to develop the science and learn from every well bore is imperative and a focus of our team.”