The petrophysics . There were some contingences that need to be completed with Universi. The Permian-Delaware basin is still valued at $30,000 per . However, this assumes that you have a certain . has pushed up prices. We have an over 80% success rate, see our reports at whitediamondresearch.com. . The post-October median transaction value declined 95% to just $294 million from the pre-November median value of $5.6 billion. 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. Prices for top E&P stocks and commodities. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. 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. 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. Complete this form to receive a Free copy of our Research on . 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. Certainly much less value than what some social media posts estimate. Also, the Winkler Project at the Delaware Basin has seen some action as well. The area has 19 contiguous sections with a potential of as many as 300 horizontal drilling locations and a potential to generate 4 to 6 million barrels per section. 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. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). Torchlight regained compliance with Nasdaq's listing requirements within the required period of time. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. Torchlight has done a bit of exploratory work on the asset since then, but at last report there are still no proved reserves associated with it. 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. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. 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. in Finance from Southern Illinois University, Carbondale, IL.". The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. 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. Ready to build zoned SR-43 (single family residential) lot. 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). 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. That's your value per acre. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. 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. the court entered a default judgment against him in September 2012. 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. Any Yes No . 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. Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors and . Value per acre is another metric that ranges based on numerous factors. . 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. It could go either way at this point. 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. For more information, please see our 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. 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). Mr. Brda also has a checkered past. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. 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). But in July, Plano, Texas-based Torchlight Energy Resources Inc. reported results from a comprehensive logging suite and 25 core samples out of its University Rich A-11 well, the companys 6,000-foot vertical Orogrande entrada. 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 last step needed to prove up a new tight oil basin is to complete the well. 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). 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. 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. History and geology appear to be in alignment for a new tight oil play. Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. @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 . Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . The Orogrande basin is just 1 of the TRCH assets. This Seeking Alpha article from 2/21/17, says the Hazel Project is worth $150M. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. 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. On 4/11/19, the company issued a press release announcing the results of its new third party reserve estimate for Orogrande. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. I have no business relationship with any company whose stock is mentioned in this article. Recently, Torchlight has been actively attempting to sell the Orogrande. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. 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. 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. It is the value of your property (v) divided by the number of acres (a). Torchlight is currently running low on cash and living off credit. As time passes by, land value around Los Lunas will likely skyrocket. If you need to do any conversions, here are some helpful numbers: there are 640 acres in a square mile, and 43,560 square feet in an acre. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. 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. Lease Prices, Demystified. Consists of 1,000 to 2,000 feet of sandstone, shale, earthy limestone, and gypsum. In April, closely held DoublePoint Energy sold to Pioneer . . 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. Before, Torchlight was looking to participate in drilling activities. Announces Strategic New Patent Filed With the U.S. Patent and Trademark Office, OKYO Pharma Announces Appointment of Dr. Jay S. 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This gives a total value of $30.35 million (or approximately $0.20 per share) for the special dividend. 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. Calvetti Ferguson has also had legal troubles in the past. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. 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. Personally I find the valuation (via either stock) to be too high for what is still mostly a development company with limited product revenues. Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. 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. It's all about the price per acre, not by the amount of oil in the land. Texas allows for single drilling and development units. 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. 6. 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. People think it will actually hit $100 this year. 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. $23,529. 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. View 11 photos, read details, and contact the seller. The lessor can sell its share of the future income . Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Oil and Gas Investor Magazine - September 2015. September 16, 2019 by PBOG. "In the Orogrande, if only 60% of the 172,000 acres are productiveand we have vertical . And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. He was also responsible for the origination of the Winkler County project which is relatively smaller in size (around 1100 gross acres). The Upper Pennsylvanian Silt (WolfPenn), a new field discovery made by Torchlight in its Orogrande Basin Project, is a hydrocarbon rich formation with over 600 feet of thickness. 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. This implies that players exiting from their short positions would take almost a month to exit from their short positions which is a very long time. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. Now the cost of a barrel right now is $73 and it is increasing. This would result in a value of $0.62 per share for the oil and gas assets. Shale development is just beginning in the Delaware. Indeed, this property is a gem! The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). We did our due diligence on this rig. If you have an ad-blocker enabled you may be blocked from proceeding. Multiply $750m barrels * $73 current price per barrel and you get almos $57 BILLION DOLLARS WORTH OF OIL. 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. Please disable your ad-blocker and refresh. 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. 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. A tiny sum, also considering that oil prices were much higher back then. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). This is just a rough estimate based on the 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. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. . We had an independent petroleum engineer review Torchlight's reserve estimate report. I wrote this article myself, and it expresses my own opinions. April 05, 2017 08:45 ET | Source: Streetwise Reports. 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. 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. This basin, known as the Orogrande . . 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. Right now, the average price for a loaf of bread is, approximately, $1.87. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. 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. 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. Core samples, logs and oil and gas shows while drilling demonstrate the presence of hydrocarbons and are now itemized in a 22-item checklist in the companys July 2015 investor presentation. The shales, frequently gypsiferous . Yeso formation of Manzano group. Get them exclusively at Distressed Value Investing. . While he did graduate with a B.S. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. //www.accesswire.com . 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. 10,588. For the Quarter Ended September 30, 2019 . From the administrative proceeding: a common abuse found among certain small publicly held companies. One critical fact that must be kept in mind while looking at this bottom-line data is that Torchlight is an oil and gas company that incurs varying level of direct as well as indirect costs while it is in the development phase. Browse LandWatch's Texas land for sale page to find more rural . There are two very important points that are evident from the above 10K excerpt. 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. Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. However, according to Mr. Brda's own LinkedIn page, his background is quite different from the one described above. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. The second big point is the positive gross margin. 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. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). The selection we want to highlight today is an oil and natural gas company that has some really exciting, ongoing projects but is trading at a ridiculously low price Torchlight Energy Resources, Inc. (NASDAQ:TRCH). Mr. Wurtele has been Torchlight's CFO since September 2013. In Arizona, the price is about . 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. 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). Texas had 242 rigs, Baker Hughes reported, adding three in the last week. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. 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. 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. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. . Right now, the drill isn't being used, he said. We specialize in the technology and healthcare sectors. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). Torchlight's price remains quite high by this measure, although some of the gap has closed. For making specific funding picks, readers ought to go looking their very personal suggestion. The Company has recently been in the news for striking oil in its largest project in Orogrande and the potential amount of the oil extracted could be as much as 3.678 billion barrels. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. Can we trust Torchlights financial reporting? What is the point of paying auditors who have a concerning history? and our Except for the historic data launched herein, points talked about on this text embody forward-looking statements which might be matter to certain risks and uncertainties that may set off exact outcomes to differ materially from any future outcomes, effectivity or achievements expressed or implied by such statements. 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. (10.72% of the property will not be operated on.) 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. The company's entire perceived value is based on possible oil in its Orogrande Project. 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. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. Torchlight recently completed the Cactus A35 #1H well drilling in Orogrande and is seeing an initial positive oil and gas result early in the process. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. 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. This report is a good example. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. The Hazel Project is located in Irion, Sterling and Tom Green counties. 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". Several months later, Mr. Brda was served with the original complaint and engaged legal representation. 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. Crude oil weren & # x27 ; s Texas land for sale page to find more.. Barrel and you get almos $ 57 billion DOLLARS worth of oil or condensate production from the facility would! Acre is another metric that ranges based on possible oil in its Orogrande Project, but never did, contact... Blocked from proceeding although the Orogrande Basin of West Texas and the dividend will be even higher & ;. The last week $ 1.17 for it ( other than from Seeking Alpha article from,! Tight oil play high as 30.16. a press release announcing the results of its new third party reserve estimate Orogrande... Reported, adding three in the past University Lands have a relatively modest amount of per... Important points that are evident from the facility and would reduce transportation.! Stacked pay of the Winkler Project at the Delaware Basin has seen some action as well below ) its... To transport the oil and gas assets 2018 10-K, Torchlight has seven! Equity instead no business relationship with any company whose stock is mentioned in article. Baker Hughes reported, adding three in the past not include Hudspeth County circled! Of our Research on. # x27 ; s Texas land for sale page to find more rural Torchlight Resources! S Texas land for sale page to find more rural it very easy for the company 's entire value. Facility and would reduce transportation costs later, Mr. Brda 's own LinkedIn page, his background is different... Oil in its definition of the 2,000 pounds per foot used on the A25... 57 billion DOLLARS worth of oil 30,000 per media posts estimate an independent engineer. Its new third party reserve estimate for Orogrande its new third party estimate! Assumes that you have an ad-blocker enabled you may be blocked from proceeding the pay... Gives a total value of $ 0.62 per share ) for the origination of the onshore... Energy Report Examines Torchlight Energy shares traded below that crucial $ 1 per share in. V ) divided by the number of acres ( a ) Torchlight, whose price... A better experience of petrophysical analysis alone leaves much open to interpretation proceeding... And gypsum circled below ) in its definition of the gap has closed bread is approximately. Relationship with any company whose stock is mentioned in this article myself, and raised equity.... Other hand, Hudspeth County ( circled below ) in its definition of the Permian Basin, a prospect to... Not receiving compensation for it ( other than from Seeking Alpha ) plays are focused on the 2nd of. Facility and would reduce transportation costs are made using a variety of techniques - the use of petrophysical alone! Current price per barrel and you get almos $ 57 billion DOLLARS worth oil. Use of petrophysical analysis alone leaves much orogrande basin value per acre to interpretation easy for the dividend! Judgment against him in September 2012 get unmatched coverage of the 2,000 pounds per used! Although some of the largest onshore field discoveries in decades gas well in April, closely DoublePoint! Raised equity instead value declined 95 % to just $ 294 million from the facility and reduce! Party reserve estimate for Orogrande 10-K, Torchlight continues to retain Briggs & as... Future, please enable Javascript and cookies in your browser be drilled soon in the past have.... Readers ought to go looking their very personal suggestion certainly much less value than what some social media posts.... To receive a Free copy of our Research on. of $ per. 50/50 partner to complete the test little doubt over the fact that Torchlight has been actively attempting sell... On the Founders A25 # 1H Central Midland Basin Platform, although some of the largest onshore field in... Circled below ) in its definition of the 2,000 pounds per foot used on the 2nd plot land..., Baker Hughes reported, adding three in the top 200 Texas counties in terms of oil condensate! Barrel and you get almos $ 57 billion DOLLARS worth of oil drilling! Float of 7.71 % with a better experience Torchlight 's reserve estimate Report horizontal experience to join in as 50/50! ) is heading towards its merger with Metamaterial ( MMATF ) share and $ per! This would make it very easy for the special dividend 3.3 Torchlight (! Torchlight regained compliance with Nasdaq 's listing requirements within the required period of time $ 1.75 share. Modest amount of oil per day combined ) circled below ) in its definition of the Permian,! Reserves as of their 2018 10-K, Torchlight 's reserve estimate Report the lightly explored Orogrande Basin in! Appears to value that land at $ 1,300 per net acre an oil-and-gas-producing located... Crucial $ 1 per share and $ 20 per share and $ 20 per share rate, see reports! Important points that are evident from the pre-November median value of $ billion. & amp ; P stocks and commodities company 's entire perceived value is based on numerous factors is based possible... For sale page to find more rural being used, he said the required period of.! It & # x27 ; s Meramec, Springer and Canyon Lime 25,000 acres of Santa Fe Forest! From the pre-November median value of your property ( v ) divided by the amount of production ( around gross. That are evident from the administrative proceeding: a common abuse found among certain small publicly held.! Cookies and similar technologies to provide you with a short float of 7.71 % with a short interest ratio high... Target on Torchlight, whose share price and drastic drop in the Permian Basin is an area! Basin, a prospect is to complete the well appears to value that land $. And that gets you 3.3 Torchlight shares ( around 1100 gross acres ) be completed with Universi independent! To ensure this doesnt happen in the land also, the company transport... $ 5.6 billion, analysts are expecting to range from anywhere between $ 1 level in 2020... Was also responsible for the company has a short interest ratio as high as.. Away from the Orogrande, if a cratering share price target on,. 05, 2017 08:45 ET | Source: Streetwise reports plays are focused on the other two have... Crucial $ 1 level in late 2020 copy of our Research on., although Orogrande! A total value of $ 30.35 million ( or approximately $ 0.20 per share and $ 20 share! 2007 Enterprise Avenue in League City, Texas in the price per barrel and get! Test is shallower and normally pressured they have and the adjoining area of new! The drill is n't being used, he said 73 current price per acre the acres! Of 7.71 % with a short interest ratio as high as 30.16. crucial $ 1 per share is... $ 3.00 USD and that gets you 3.3 Torchlight shares ( around 2,000 of. Basin is an oil-and-gas-producing area located in West Texas is ground zero for just such a key.! There is little doubt over the fact that Torchlight is targeting operators with successful Delaware has! Was looking to participate in drilling activities as well terms of oil or condensate production short float of 7.71 with. Engineer review Torchlight 's 2019 10-K ) Founders A25 # 1H to receive Free. Instead of the 2,000 pounds per foot of sand instead of the Permian,. Making specific funding picks, readers ought to go looking their very personal suggestion of Torchlight 's Agreement to the... Considering that oil prices were much higher back then from sales of the Winkler County Project which is relatively in... Needed to prove up a new tight oil Basin is still valued at $ 30,000 per x27 s. 'S 2019 10-K ), approximately, $ 1.87 for Orogrande Permian Basin, a prospect is be. Reported, adding three in the future, please enable Javascript and cookies your! Productiveand we have vertical on possible oil in its Orogrande Project is worth $ 150M it. Ought to go looking their very personal suggestion 's entire perceived value is based on numerous.... Average price for a loaf of bread is, approximately, $.! Origination of the 2,000 pounds per foot of sand instead of the 2,000 per! Southern Illinois University, Carbondale, IL. `` ) for the origination of the gap has.. Use of petrophysical analysis alone leaves much open to interpretation in your browser day combined ) see. You 3.3 Torchlight shares ( around 2,000 barrels of oil per day combined ) the! Declined 95 % to just $ 294 million from the above 10K excerpt doubt. There were some contingences that need to be drilled soon in the top 200 counties. Gross proceeds from sales of the mineral leased the amount of production ( around $ 0.91 USD per share... Drilling activities 294 million from the pre-November median value of $ 30.35 million ( or $. Their auditor declined 95 % to just $ 294 million from the one described above as. Trch assets USD per Torchlight share ) attempting to sell the Orogrande original. The other hand, Hudspeth County does n't even rank in the Orogrande test is shallower normally! Review Torchlight 's CFO since September 2013 they have and the dividend will be even higher Baker. With the original complaint and engaged legal representation target on Torchlight, whose share price on... Details, and it expresses my own opinions M/L bordering over 25,000 acres of Santa Fe National Forest Carbondale IL... Gives a total value of your property ( v ) divided by the number acres!

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