April 9, 2018 / 11:57 AM / 10 days ago

BRIEF-Torchlight Energy Announces Plan To Market Midland Basin Assets

April 9 (Reuters) - Torchlight Energy Resources Inc :

* TORCHLIGHT ENERGY ANNOUNCES PLAN TO MARKET MIDLAND BASIN ASSETS

* BOARD HAS ENGAGED ROTH CAPITAL PARTNERS TO CONDUCT PROCESS OF MARKETING ITS MIDLAND BASIN ASSETS ALSO KNOWN AS HAZEL PROJECT

* “WE HAVE BEGUN TO HAVE DISCUSSIONS WITH A FEW GROUPS REGARDING POTENTIAL SALE OF HAZEL PROJECT”

* CO OWNS 80% WI IN 12,000 MOSTLY CONTIGUOUS GROSS ACRES IN PLAY AND TO DATE HAS DRILLED TWO SCIENCE WELLS

* CAPITAL BUDGET IN OROGRANDE IS GOING TO INCREASE

* TORCHLIGHT ENERGY, ON HAZEL PROJECT, SAYS RECENT GEOLOGIC, OPERATIONAL DEVELOPMENTS IN OROGRANDE HAVE GIVEN CO INFO TO RETHINK FOCUS, CAPITAL BUDGET

* TORCHLIGHT ENERGY SAYS FEELS THAT “BEST WAY TO MOVE FORWARD IS TO FREE UP VALUE FROM HAZEL AND DEVOTE IT TO OROGRANDE” Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below