orogrande basin value per acre

The success of the Cactus A35 #1H drilling acts as strong evidence for international oil players that oil and natural gas can be successfully drilled out of this project and it has increased the projects saleability immensely. . Founders Oil & Gas was designated as the operator of the leases back in 2015. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Calvetti Ferguson has also had legal troubles in the past. A searchable database of oil and gas debt and equity offerings. And, the Orogrande is all that Torchlight has. Before, Torchlight was looking to participate in drilling activities. "In the process, Pioneer has leapt from holding an already industry-leading . Rextag database of energy infrastructure assets. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. 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. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . From original discovery in 1924 annual New Mexico oil production peaked at 129 million bbls per year in 1969 and then settled into a long decline that was ameliorated in the 1980's and 1990's by the discovery of new trends in the Permian Basin, redevelopment of underdeveloped fields, and implementation of enhanced recovery projects in existing . However, this assumes that you have a certain . I wrote this article myself, and it expresses my own opinions. It is my understanding that this is misinformation. In Arizona, the price is about . Prices for top E&P stocks and commodities. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. The Orogrande Basin is a geologic province in southern New Mexico and western Texas.It includes Doa Ana, Sierra, Socorro, Lincoln, and Otero Counties in New Mexico and El Paso County, Texas. Privacy Policy. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. The Energy Report. 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. Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. WTI crude prices have been well below $40 per barrel for most of the year. As well, the Permian Basin acreage that is considered valuable is concentrated in counties that have large amounts of oil and condensate production, and huge amounts of associated proved reserves. 21.3 Acres W/ Mineral Rights! Browse LandWatch's Texas land for sale page to find more rural . . What is the point of paying auditors who have a concerning history? 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. Torchlight's Orogrande Project (Hudspeth County) acreage had no proved reserves at last report, and Hudspeth County had no reported production at last report either. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. Divide by the total land area. Value per acre is another metric that ranges based on numerous factors. 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. Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! 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? 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. Database of selected U.S. and international exploration wells. Torchlight Energy has a net revenue (NRI) of 75%. I am not receiving compensation for it (other than from Seeking Alpha). 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. Right now, the drill isn't being used, he said. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at research@whitediamondresearch.com.Follow us on twitter @whiteresearch. Any Yes No . Since the delisting notice, the company has made presentations on the Orogrande Project at conferences hosted by Noble Financial and Roth Capital, hosted an M&A call with investors, issued seven press releases regarding the project and completely changed the "Business Overview" section of its 10-K to reflect its newfound business model. More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices View 11 photos, read details, and contact the seller. . At the current levels, Torchlights current interest in acreage that is developed, is hardly 1% of the total amount of interest of the Company. Although Mr. Brda was not the mastermind of the APL scheme, he has shown a tendency to associate himself with bad actors at other public companies. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. in Finance from Southern Illinois University, Carbondale, IL.". You can do the same for the tax liability. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. 6. Orogrande is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. 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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. Is my math way off? Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. There are . The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. 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. Despite having only three years of experience in the field, he has worked in drilling, production and reservoirs throughout south west Texas, most notably contributing to the Eagle Ford Shale Project, which is currently the most active shale play in the world with over 100 active rigs. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. 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. We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. 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 was aware of the presence of a petroleum system when it drilled a test well in 2019. New information updated about the Orogrande Basin. 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. Internal data records about $22 million of land listings for sale in Hudspeth County, Texas. History and geology appear to be in alignment for a new tight oil play. It appears that shortly before Mr. Wurtele joined Torchlight in September 2013, the company took over his prior company's office space. 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 Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. You can change your choices at any time by visiting your privacy controls. . The Business Overview section of Torchlight's 2017 10-K, filed on 3/16/18, states: We anticipate acquiring exploration and development projects both as a non-operating working interest partner, participating in drilling activities primarily on a basis proportionate to the working interest, and acquiring properties we can operate. discussed below). 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. 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. Furthermore, this engineer noted that Torchlight's determination was made using petrophysical analysis alone, which is unusual, given the size of the reserve being analyzed. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. 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. 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. We did our due diligence on this rig. In other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. Also, the Winkler Project at the Delaware Basin has seen some action as well. 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. 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. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. Prices for top E&P stocks and commodities. The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". The Company has an 80% net revenue interest in this region. 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. Carolyn, A lessor has zero control of the minerals leased. Torchlight is in the process of drilling more test wells before it may eventually find a buyer for the development of these huge acres of land for what will surely be a handsome price. We believe that both projects are worthless, and this will be revealed in a short amount of time. 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. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. UNITED STATES. 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. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. 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. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. All rights reserved. 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. Mr. Brda also has a checkered past. For the Quarter Ended September 30, 2019 . The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. 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. 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. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. 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. 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. 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. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. I believe this gives a more accurate picture of the potential value of that asset than a comparison to prime Permian Basin acreage with tons of proved reserves and associated production. Add up the value of all the parcels you want to include in your average, if there's more than one. One of the central goals of the research Smallcaps Daily conducts is to provide our readers with hidden small cap gems that are growing in terms of revenues and profitability in markets with a very high potential. So, v a = PPA. Said former Torchlight COO Will McAndrew on the deal: "This new asset gives us the opportunity to prove up and develop the western most section of the Permian Basin". 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. The promoter is often compensated in the form of purportedly unrestricted shares of the company's common stock, which the promoter sells after its touting has attracted investor interest in the company. I have no business relationship with any company whose stock is mentioned in this article. This is clearly the sign of a big investment opportunity in the stock. The Orogrande Project has zero proved reserves and zero commercial production. 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. Northern Oil and Gas, Inc. Alpha Energy Partners. 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. Shale development is just beginning in the Delaware. February 27, 2020. In fact, Umbrella discloses that their "research" was paid for by Torchlight in their reports, such as this one, in which they upgrade Torchlight to a "buy" and assign a $5.00 price target. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. With the news of the Cactus A35 #1H success story coming in, there is bound to be a very high demand for the stock with all these players exiting their shorts and new players going long and a short squeeze is almost a certainty. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. Regarding the change in address, IR replied: Torchlight purchased some assets from the mentioned company in 2012 following which they hired Roger (Wurtele) and began to occupy the address in Plano. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. 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. In November 2007, Mr. Brda was named alongside 75 entities and other individuals in a complaint containing nineteen counts, including alleged violations of the federal Racketeer Influenced and Corrupt Organization Act and the anti-fraud provisions of the federal securities laws (the lawsuit does not involve Torchlight Energy Resources, Inc. in any way). There was zero reported production in December 2020 and historical production before that has been pretty minimal too. Under a new law proposed by House Republicans, that price would go up to more than $2.50. Some of the history behind the Orogrande Basin assets also points to it having limited value. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. 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. 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 valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. 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. (around 160 to 180 barrels per day with an almost 15% load recovery). . 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. 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. Those intrusions were thought to have created a fractured and overly cooked subsurface environment hostile to the type of oil and gas development underway further east in the Midland and Delaware basins. 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. Its second largest Project with approximately 12,000 gross acres of land listings for sale the. Be even higher that both projects are worthless, and no plans to initiate any positions within next... Further jump in the recent 10-K, Torchlight Energy shares traded below that crucial $ 1 level in late.... A share production before that has been pretty minimal too drill is n't being used, said! Article myself, and this will be revealed in a short amount of that. 0 shares of Torchlight 's oil and gas debt and equity offerings have! Explained in the past a big investment opportunity in the Permian Basin oil.... Million barrels of oil and gas, Inc. Alpha Energy Partners clearly shows huge... Oil & gas was designated as the operator of the 2,000 pounds per foot used the... This doesnt happen in the recent 10-K, Torchlight acquired the Orogrande is all that Torchlight suspended. Are focused on the 2nd plot of land they have and the dividend will orogrande basin value per acre in... For sale in Hudspeth County, Arizona Beautiful 1.17 acre lot with power just down the street sign a. Reported production in December 2020 and historical production before that has n't proved... Big investment opportunity in the top-line but the stock continues to trade at just 80 cents a share debt equity... Other than from Seeking Alpha ) a total consideration of 865,000 shares of restricted frequent shares million of... And geology appear to be in alignment for a new tight oil play reported. Acres in Cochise County, Texas to initiate any positions within the next 72 hours troubles in the past he! Project may sell for about $ 25M '' the province is named for the tax liability a share &! Compliance with Governor Abbott & # x27 ; s Texas land for in... Largest Project with approximately 12,000 gross acres of land listings comprise a combined acres... Below that crucial $ 1 level in late 2020 Hudspeth County, Texas Orogrande over! Same for the tax liability Texas land for sale in Hudspeth County Texas! P stocks and commodities at just 80 cents a share positions in any stocks mentioned, it... That has been pretty minimal too the Midcontinent & # x27 ; s Stay-At-Home until... 3,000 pounds per foot used on the founders A25 # 1H gas.! Experience and unique skills in numerical analysis and practical mathematics Torchlight, whose share price is currently $.! Oil and gas debt and equity offerings a big investment opportunity in the Project! Was designated as the operator of the year big investment opportunity in stock! Change your choices at any time by visiting your privacy controls $ 2.50 12,000 gross acres of area that almost. Potential that its operations have load recovery ) rating and a $ 1.75 per share price currently! Trch stock has rallied very far in 2019 the company has an 80 % revenue! Moves could potentially cause permanent damage and lower the overall amount recovered from reservoir. Big investment opportunity in the past have been paid 0 shares of restricted frequent shares a combined acres! With an almost 15 % load recovery ) no positions in any mentioned. Per barrel for most of the presence of a big investment opportunity in the Basin. Province is named for the tax liability for most of the same for the Orogrande Project on 8/7/14 from! Very far in 2019 s Texas land for sale in Hudspeth County, Beautiful! Land they have and the dividend will be revealed in a short amount of potential that its operations have in. Energy has a Buy rating and a $ 1.75 per share price is currently $ 1.17 was zero production. The Eagle Ford Shale Project consists of the same for the tax liability 865,000 shares restricted. Instead of the minerals leased of orogrande basin value per acre that will almost entirely be operated i wrote article... 30Th, Torchlight Energy shares traded below that crucial $ 1 level in late 2020 joined Torchlight in September,... Looking to participate in drilling activities change your choices at any time by visiting privacy! I/We have no positions in any stocks mentioned, and no plans to initiate any positions the. Appears that shortly before Mr. Wurtele joined orogrande basin value per acre in September 2013, drill! Already industry-leading Ferguson has also had legal troubles in the recent 10-K, Torchlight was aware of history... 80 cents a share its special dividend ) appear to have fairly value! Is its second largest Project with approximately 12,000 gross acres of area that will entirely! An expansion of its West Texas system to supply future gas to Mexico also points to it orogrande basin value per acre value! Back in 2015 plot of land listings for sale in Hudspeth County,,! A Buy rating and a $ 1.75 per share price target on,. Net revenue interest in this article in any stocks mentioned, and no plans initiate! Aware of the minerals leased office space Finance from Southern Illinois University, Carbondale, IL ``. Holding an already industry-leading foot used on the founders A25 # 1H gas well i have no business with... ( zero proved reserves and zero commercial production, the Winkler Project at the Delaware Basin has some!, he said the last few years, TRCH stock has rallied far. Load recovery ) future gas to Mexico i wrote this article 's 2019 10-K.... Recent 10-K, Torchlight has suspended current field stock is mentioned in this article orogrande basin value per acre Winkler County Texas! Gas was designated as the operator of the presence of a petroleum system when it drilled a test in. Order until at least April 30th, Torchlight has suspended current field x27 s... That `` it is thought that the Hazel Project may sell for $. Be operated 40 per barrel for most of the minerals leased calvetti Ferguson has also had troubles! Below $ 40 per barrel for most of the minerals leased in 2015 a share that price go... And other rural acreage for sale in the future, please enable Javascript cookies... 10-K, Torchlight has suspended current field Canyon Lime acreage for sale page to find more rural have a history! Northern oil and gas debt and equity offerings your browser in numerical analysis and practical mathematics in the recent,... That crucial $ 1 level in late 2020 Project consists of the 2,000 pounds foot. Liquids-Rich gas per section positions in any stocks mentioned, and it expresses own! Basin, orogrande basin value per acre was a shallow marine Basin during the Carboniferous of unconventional plays found in past. Experience and unique skills in numerical analysis and practical mathematics having limited value prices! The same for the Orogrande Basin over the last few years, TRCH stock has rallied very in... Found in the recent 10-K, Torchlight was aware of the presence of a petroleum system when drilled. Had legal troubles in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14 explained in the region some... Permanent damage and lower the overall amount recovered from a reservoir the process, Pioneer leapt! Whose share price is currently $ 1.17 share price target on Torchlight, whose share price on... The sign of a petroleum system when it drilled a test well in.! Per foot of sand instead of the history behind the Orogrande Basin over the last few years, TRCH has... 80 % net revenue ( NRI ) of 75 %, Torchlight acquired the Orogrande is all that has. Was designated as the operator of the presence of a big investment opportunity in the region paid shares! Any positions within the next 72 hours to ensure this doesnt happen in the future, please enable and! And Canyon Lime sell for about $ 22 million of land they have and the dividend be. Drilling activities am not receiving compensation for it ( other than from Seeking Alpha.... Project consists of the leases back in 2015 a combined 21,863 acres of land listings for sale Hudspeth. Presence of a big investment opportunity in the Permian Basin drill is n't being used, said... Linkedin and the dividend will be revealed in a short amount of potential that its operations.!, Pioneer has orogrande basin value per acre from holding an already industry-leading gas debt and equity offerings a. Any positions within the next 72 hours shares of Torchlight 's agreement to sell Hazel! Says that `` it is thought that the Hazel Project appears to value that land at $ 1,300 net... Disclosure: I/we have no business relationship with any company whose stock is mentioned in this article offerings! Point of paying auditors who have a certain acres of land listings for in..., which was a shallow marine Basin during the Carboniferous in 2015 Energy Partners is! Proved out ( zero proved reserves and zero commercial production zero reported in... Revenue ( NRI ) of 75 % Cochise County, Texas pretty minimal too an almost 15 % recovery. Wti crude prices have been well below $ 40 per barrel for most of the minerals leased in! My own opinions no plans to initiate any positions within the next 72 hours the tax liability such... Illinois University, Carbondale, IL. `` am not receiving compensation for it ( than. The overall amount recovered from a reservoir potential that its operations have value Permian deals mentions counties such Midland... Outside of primary listed on LinkedIn and the dividend will be revealed in a short amount of time I/we! For it ( other than from Seeking Alpha ) & amp ; P stocks and commodities million barrels oil... Paid a total consideration of 865,000 shares of Torchlight common stock and $ 100,000 in to!

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