November 16, 2017 / 12:52 PM / a year ago

BRIEF-Torchlight takes back control on the Orogrande project with Farm In

Nov 16 (Reuters) - Torchlight Energy Resources Inc

* Torchlight takes back control on the Orogrande project with Farm In

* Torchlight Energy Resources Inc - ‍company will take back operational control from Founders Oil And Gas on its orogrande basin project​

* Torchlight Energy Resources Inc - ‍Torchlight will be joined by Wolfbone Investments Llc, a company owned by Greg McCabe, Torchlight’s chairman​

* Torchlight Energy-‍two entities have entered into Farm In agreement with founders, will share remaining commitments under prior agreement with founders​

* Torchlight Energy - ‍all original provisions of Torchlight’s carried interest will remain in place including reimbursement to company on each Wellbore​

* Torchlight Energy - ‍Torchlight’s interest in project will increase by 20.25% working interest to a total of 67.75% and Wolfbone will also own 20.25%​ Source text for Eikon: Further company coverage:

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