Wildcat Stocks: Torchlight Annouces Preliminary Results of the Johnson #4

REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
Closed bridge financing for $150,000 and went public in 2011.
Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
Plans to acquire and develop $200 MILLION in proven reserves.

Wednesday, September 14, 2011

Torchlight Annouces Preliminary Results of the Johnson #4

HOUSTON, Aug. 29, 2011 /PRNewswire/ -- Torchlight Energy Resources, Inc. (OTCBB:TRCH - News) and its partner have completed and are testing the Johnson #4 in the Marcelina Creek block in Wilson County Texas. The well is located approximately 3 miles NW of the Karnes County border and just southwest of the town of Poth.

Torchlight and Bayshore Operating are testing the well in the Cretaceous aged Buda formation. Although the well is still cleaning itself up from the drilling process, the initial results are positive with rates as high as 140 barrels of oil per day and large volumes of natural gas. We will continue to monitor the well as it cleans up and look to file the initial production and completion report with the Texas RR Commission in the coming days.

"We are extremely pleased with the initial performance from this vertical well for both oil and natural gas," stated Tom Lapinski, CEO of Torchlight, "not only do we have excellent flush oil production, but we also have sufficient volumes of gas that we are presently investigating means to monetize these reserves. This coupled with other zones of interest in the Cretaceous aged formations makes for exciting prospects for Torchlight".

This is the first of a three well program to test the Buda in the Marcelina Creek area and to earn a 75% interest in the block. As many as 13 Buda and 9 Eagle Ford wells can be drilled on the acreage. Torchlight will look to drill the remaining two wells in its obligation at the beginning of the 4th quarter.

Source: PR Newswire

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