Dallas, Texas: StockGuru announces The StockGuru Spotlight for Friday August 17, 2012: Torchlight Energy Resources (OTCBB: TRCH).
Torchlight Energy Resources, Inc. (OTCBB:TRCH) is pleased to announce the results of early stage testing of the recently re-drilled Johnson well.
The well encountered a series of excellent oil and gas shows and was tested open hole. Prior to and during the test period, over 1200 barrels of oil were produced and sold as test oil.
Based on a 24 hour test, the company produced oil at a stabilized rate of 18 barrels of oil per hour or 438 barrels per day along with significant associated gas. The well also produced 5.4 barrels of water per hour however most of that is load water put in during an acid wash operation. After 30 days, we will announce the 30 day average rate.
Management Comments
Tom Lapinski Torchlight CEO says, “We are obviously pleased with the early results of this well. We decided to drill the Austin Chalk because of excellent shows that we encountered in the original wellbore. This well further substantiates our belief that the entire Upper Cretaceous section, Austin Chalk, Eagle Ford and Buda, are one resource play with various sweet spots…”
For more information on TRCH, please visit: http://stockguru.com//tag/trch/
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