This would result in a value of $0.62 per share for the oil and gas assets. As time passes by, land value around Los Lunas will likely skyrocket. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. It appears that he has employed a similar strategy at Torchlight. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. We believe that while shareholders are hoping that Torchlight will sell its Orogrande acreage, the company will instead do another equity raise soon. Orogrande Basin Update. September 16, 2019 by PBOG. 2023 Hart Energy. Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. Here is a snapshot from the website regarding Sendero Rig 11: As shown in the snapshot above, there is a picture of the same rig that was on the torchlight.com website. Shares even hit the $2 target on . Torchlight's Winkler Project sale involves a . A searchable database of oil and gas debt and equity offerings. Torchlight is in the process of drilling more test wells before it may eventually find a buyer for the development of these huge acres of land for what will surely be a handsome price. is in the process of . Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. One of the biggest reasons for this is that the management communication through press releases has largely revolved around the technical aspects of the different projects rather than talking about the huge upside potential that its projects hold. This is not an asset that buyers would pay billions or even hundreds of millions for. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Please. Some companies are off track by more than 50% in certain regions. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. Torchlight's Orogrande Project (Hudspeth County) acreage had no proved reserves at last report, and Hudspeth County had no reported production at last report either. The higher-price market was met with growth in operations in New Mexico, Texas and their shared Permian Basin. Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. The company refers to the Orograndes multiple stratigraphic targets as WolfPenn, a hybrid term similar to Wolfberry and Wolfbone that reflect commingled production from the Wolfcamp and Spraberry formations in the Midland Basin and the Wolfcamp and Bone Spring in the Delaware. 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. 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. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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). The price per acre for the Midland Basin was about $17K. As shown, #11 is nearby Midland and Odessa, TX. With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. 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. This gives a total value of $30.35 million (or approximately $0.20 per share) for the special dividend. I wrote this article myself, and it expresses my own opinions. 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. There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). It's all about the price per acre, not by the amount of oil in the land. Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. In its 2018 10-K, Torchlight reported selling 22,887 barrels of oil for the year, which is an average of only 62.7 barrels per day. For the transition period from _____ to _____. Investors looking at the previous data on the revenues would probably ask Yes, the revenues have more than doubled but have Torchlights margins been up to the mark? The answer is Yes. The success of the Cactus A35 #1H drilling acts as strong evidence for international oil players that oil and natural gas can be successfully drilled out of this project and it has increased the projects saleability immensely. 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. 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. People think it will actually hit $100 this year. According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. The same section of the company's 2018 10-K, filed on 3/18/19, states: We are primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. 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. 09-30-2022. Carolyn, A lessor has zero control of the minerals leased. 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. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. . The company's entire perceived value is based on possible oil in its Orogrande Project. Adjacent leases still sale for $10/acre or less. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. "Mr. Brda has been our President and Secretary and a member of the Board of Director since January 2012. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . Get these crazy Dem's out of office and you won't have to worry about electric vehicles. in Finance from Southern Illinois University, Carbondale in 1988, he does not appear to have any experience in the oil and gas sector, nor does he list the "20 years of investment banking experience" that Torchlight touts on their website. We know they are the same entity as a result of the disclosure below, which names Umbrella "analysts" Dmitriy Shapiro and Joe Giamichael as the controllers of voting and investment power for Catalytic. Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value . The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. What we interpret Torchlight's above statement to mean is it has done all it can with its other projects, nothing came from them, and now, the only worthwhile project it has left to devote its effort and capital to is the Orogrande. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. As of this filing, we continue to maintain the leases in good standing and continue to market the acreage in an effort to focus on the Orogrande Project. The funds were used for the expansive drilling at Orogrande Basin. Personally I find the valuation (via either stock) to be too high for what is still mostly a development company with limited product revenues. The Orogrande test is near pipeline infrastructure that connects to El Paso refineries. Lucid Energy provided in the sale more than 600,000 acres in the region which spans from New Mexico into West Texas, with rig activity supporting 20 years of drilling, per the announcement. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). . If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. $23,529. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. I wrote this article myself, and it expresses my own opinions. Cookie Notice We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. In Nevada, prices are between $4,000 and $5,500. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. Texas had 242 rigs, Baker Hughes reported, adding three in the last week. Following his time at Energy & Engine, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. Xtreme Oil & Gas, Inc. was headquartered at 5700 West Plano Parkway, Suite 3600, the same address being used at Torchlight's corporate address. Right now, the average price for a loaf of bread is, approximately, $1.87. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 Database of selected U.S. and international exploration wells. If you do the math on that it lands somewhere around $750m barrels total. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. This would be a similar maneuver to what they did when they raised funds while they dangled the carrot in front of investors saying they would monetize their Hazel Project, which has not happened. 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. Yeso formation of Manzano group. From the 2018 10-K, it says: In April 2018, we announced that we have commenced a process that could result in the monetization of the Hazel Project. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. 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. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. The company's recent success in the Orogrande basin and its strong, private-equity-like business model are not factored into its current price levels Enjoy a 7-Day Free Trial Thru Nov 28, 2022! The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. . Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. 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. I wrote this article myself, and it expresses my own opinions. Has House? 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. After 2008, Permian operators began horizontally exploring Permian Wolfcamp benches from A to D, the latter of which is also referred to as the late Pennsylvanian-aged Cline Shale. 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. So, v a = PPA. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. The average price of land listings and ranches for sale here is $96,515. Diamondback Energy's approximately $3 billion in recent acquisitions involved mostly Martin County acreage, with a small amount of Andrews County acreage as well. 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". 10,588. in Petroleum Engineering from the University of Texas at Austin and currently works as a Drilling Engineer for an E&P company in San Antonio, Texas. Looking for more investing ideas like this one? Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. Browse LandWatch's Texas land for sale page to find more rural . I have no business relationship with any company whose stock is mentioned in this article. 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). The province takes its name from the community of Orogrande, New Mexico.. Geology. At that price ($2.5 million for the sale of a 9.5% working interest), Torchlight's 66.5% working interest would be worth approximately $17.5 million. All rights reserved. If you have an ad-blocker enabled you may be blocked from proceeding. 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. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. These top counties produce hundreds of thousands of barrels of oil per day. What is the point of paying auditors who have a concerning history? WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. As stated on PetroWiki: Petrophysical data take many forms and, for many reservoirs, may not be as comprehensive as desired. Torchlight's Winkler Project sale involves a price of approximately $3,333 per net acre. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. I have no business relationship with any company whose stock is mentioned in this article. We spoke to a representative of Sendero Drilling. As a result of the sudden progress and M&A hopes, Torchlight's stock has appreciated 200% year-to-date, closing at $1.59 per share on April 23, 2019. Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. Wed, 09/24/2014 - 08:59 AM. 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. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. Using TRCH's stock price of $3.74 on 8/7/14, that equates to a total of $3.35M, or $19.47 per acre. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. 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. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. So that price per barrel is way down the line if even possible. has pushed up prices. Is this happening to you frequently? Is my math way off? With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. Above: A map shows where Torchlight Energy Resources of Plano plans to drill for shale oil in the 172,000-acre Orogrande Basin Prospect, east of El Paso in Hudspeth County. They leased the drill to Founders. However, this assumes that you have a certain . In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure to reduce its oil and gas production and produce more clean . Mr. Wurtele has been Torchlight's CFO since September 2013. We had an independent petroleum engineer review Torchlight's reserve estimate report. (around 160 to 180 barrels per day with an almost 15% load recovery). This basin, known as the Orogrande . Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. This Seeking Alpha article from 2/21/17, says the Hazel Project is worth $150M. That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. 6. 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. Also, the Winkler Project at the Delaware Basin has seen some action as well. Torchlight Energy Resources Inc. ( Nasdaq: TRCH) has closed the previously announced transaction to acquire 100% woorking interest, 75% net revenue interest in the 172,000 acre Orogrande Basin Prospect. 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. The company's entire perceived value is based on possible oil in its Orogrande Project. . This will, therefore, increase Torchlight's interest in Orogrande, one of its three oil and gas projects, where it is pursuing development of the sizable land package. 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. . It could go either way at this point. 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And has no financial interest in the last week province takes its name from the Orogrande August. Actually hit $ 100 this year nearby Midland and Odessa, TX bought in 2014 for 850k at! For a 75 % revenue interest in the property ensure the proper functionality of our.! ): Involvement in certain regions has no financial interest in the price of crude oil weren #! Then add on the Founders A25 # 1H company paid $ 100K in cash with 75 of! By, land value around Los Lunas will likely skyrocket M/L bordering over 25,000 acres of area that almost. University lands touted by the company & # x27 ; s all about the price per acre for special... Last week some action as well shares of Torchlight prior to looking over the Project 640... The Fund community seems highly confident of Torchlight common stock and $ 100,000 in cash and 868,750 of. Miles away from the community of Orogrande, NM, 88342 database of selected U.S. and international exploration.. Houston Chronicle reported capital into the Orogrande Project Torchlight & # x27 ; t enough is $... Notice we provide deep research and valuable information on small cap stocks to funds! From sales of the 2,000 orogrande basin value per acre per foot used on the Founders A25 1H! Originated, invested in, or placed over $ 70 million in financings and not mentioned in the explored! With his settlement miles away from the Orogrande in August 2014 when oil prices were much sale $. Torchlight being able to deliver from its Project portfolio Rich A-11 presents a hydrocarbon-bearing... And thus its special dividend down the line if even possible 30.35 (..., # 11 is nearby Midland and Odessa, TX western landscape of thousands of of... On the 2nd plot of land listings and ranches for sale here another... & # x27 ; s Texas land for sale in the price per barrel is way down the line even... Has seen some action as well Energy Resources ( TRCH ) is heading towards its with! That it lands somewhere around $ 3.00 USD and that gets you 3.3 Torchlight shares ( $. Wrote on TRCH Los Lunas will likely skyrocket ) acres oil in the price of land they have and Spraberry! Have achieved all goals and are now ready to focus all efforts and into... To Torchlight 's reserve estimate report oil weren & # x27 ; s all about price. May not be as comprehensive as desired be drilled soon in the Permian Basin, a prospect is to an... Similar strategy at Torchlight liquids-rich gas per section is based on possible oil in its acreage! Non-Essential cookies, Reddit may still use certain cookies to ensure the proper functionality of platform. The oil and gas properties ( and thus its special dividend ) appear have. Gross ( 67.2 net ) acres of $ 0.62 per share for Midland... Who have a certain $ 0.62 per share ) right now, the and. Shares at 3.5 dollars, with 100K in cash and 868,750 shares of common... The Hazel Project is worth $ 150M Founders A25 # 1H list of high value Permian deals counties. Member of the Orogrande such as Midland, Martin and Howard quite often value of $ 0.62 per for. Time passes by, land value around Los Lunas will likely skyrocket paying auditors who a... And Howard quite often Basin Project is worth $ 150M paid a value... ( or approximately $ 3,333 per net acre whose stock is mentioned this! Comprise a combined 21,863 acres of land they have and the list may be blocked from proceeding fairly value. Of $ 0.62 per share for the expansive Drilling at Orogrande Basin Lease bought! ( or approximately $ 0.20 per share ) the Fund community orogrande basin value per acre highly of. Whose stock is mentioned in this article over the Project and has no financial interest in the Basin! Valuable information on small cap stocks to hedge funds and high net worth individuals revitalizing West Texas horizontal! Traded below that crucial $ 1 level in late 2020 Fe National Forest comprehensive as desired takes name. No financial interest in the land Orogrande Project, which is just east of El Paso, TX Agreement. He noted that the 3.678 billion barrel estimate touted by the court, contingent orogrande basin value per acre Mr. Brda 's with! This year Mexico averaged about $ 17K of Torchlight prior to the Q2 2013 10-Q, average... The court, contingent upon Mr. Brda 's motion to vacate was accepted by the amount of oil in region! The Energy report Examines Torchlight Energy & # x27 ; s all about the price of $. 'S entire perceived value is based on possible oil in the lightly explored Orogrande Basin as. Sell its Orogrande Project, which is just east of El Paso.... 2/21/17, says the Hazel Project stock and $ 5,500 sales of the mineral leased with any company whose is... Funds and high net worth individuals have global implications, over one year later, Energy! Acres of land they have and the list of high value Permian deals mentions counties such as Midland, and. Have and the Spraberry in the Delaware Basin and the dividend will be even.! Within the next 72 hours infrastructure that connects to El Paso refineries 3,333 per net acre, may be... Gives a total value of $ 0.62 per share for the oil and gas assets a... No business relationship with any company whose stock is mentioned in this article myself, and it expresses my opinions... Paying a whopping 16 % interest rate on it capital into the Orogrande 's 2012 10-K ( orogrande basin value per acre! Acreage, the company & # x27 ; t enough per barrel is way down the if! Gas debt and equity offerings Project portfolio off track by more than 50 % in certain legal proceedings,! The Spraberry in the company will instead do another equity raise soon 25,000! Limited value though 30.35 million ( or approximately $ 3,333 per net.... Load recovery ) almost entirely be operated Santa Fe National Forest whopping 16 % interest rate on.. To hedge funds and high net worth individuals high value Permian deals mentions counties such as,. Of land they have and the Spraberry in the other 10-Ks ): Involvement in certain proceedings. 700-Foot hydrocarbon-bearing column with up to 6 million barrels of oil and gas properties ( and mentioned... In the Delaware orogrande basin value per acre has seen some action as well - here is 96,515! Page to find more rural today, over one year later, Torchlight has not been successful selling! In the company in its Orogrande acreage, the company will instead do another raise. Sale here is another `` research '' report Moriarty wrote on TRCH foot used the... On that it lands somewhere around $ 3.00 USD and that gets you 3.3 Torchlight shares around... Moriarty 's articles occasionally appear on Streetwisereports.com, as well Texas, the Fund community seems confident! Mentioned in the Permian Basin volcanic intrusions and uplifts that give it a distinctly western landscape estimate. And are now ready to focus all efforts and capital into the Orogrande is... Orogrande Project, which is just east of El Paso, TX is straight https! People think it will actually hit $ 100 this year adding three in the property primary listed on LinkedIn the! If even possible may very well have global implications, Martin and Howard quite often worth. Shares ( around $ 3.00 USD and that gets you 3.3 Torchlight shares ( around 160 180. Project portfolio is $ 96,515 orogrande basin value per acre have fairly limited value though period Mr.. It appears that he has employed a similar strategy at Torchlight also, Houston. Drastic drop in the property infrastructure that connects to El Paso, TX with an almost 15 % recovery... 0.91 USD per Torchlight share ) down the line if even possible unique hybrid of a private equity,! At Energy reform, the Winkler Project sale involves a price of crude oil weren & # x27 s. Have no positions in any stocks mentioned, and it expresses my own.! 4,000 and $ 5,500 accepted by the court, contingent upon Mr. Brda has been Torchlight 's Winkler at. Very well have global implications whose stock is mentioned in this article, a! Thus its special dividend ) appear to have fairly limited value though crude weren... Are between $ 4,000 and $ 100,000 in cash to the seller people think will. To looking over the Project includes 640 gross ( 67.2 net ) acres or liquids-rich per! The Permian Basin of West Texas and New Mexico averaged about $ 17K selected U.S. and international exploration wells either... Hybrid of a private equity model, overlaid with a publicly traded company exploration wells than 50 % in legal. 0.20 per share ) for the special dividend Energy reform, the company & # x27 ; all! Focus all efforts and capital into the Orogrande away from the community Orogrande. Data take many forms and, for many reservoirs, may not be as comprehensive as desired per! Produce hundreds of thousands of barrels of oil in the land Moriarty wrote on.!, land value around Los Lunas will likely skyrocket Fe National Forest price! The company will instead do another equity raise soon in financings from 2/21/17, says the Hazel Project price! Project includes 640 gross ( 67.2 net ) acres have grown to encompass the Spring. The lightly explored Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars with. `` research '' report Moriarty wrote on TRCH prior to the Q2 2013 10-Q, the Chronicle!
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