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Torchlight Hits Total Depth at Latest Permian Well; Preps to Frac

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   |    Thursday,June 02,2016

Torchlight Energy Resources Inc. announced that they have reached total depth on their University Founders B-19 #1 drilled to 6105 feet. The well has been logged and 25 sidewall cores were taken from the target intervals of the pay zone(s). The well has been cased and cemented in preparation for a frac job which is expected to be performed following data analysis.

Rich Masterson, consulting geologist, commented: "We are encouraged with the initial scientific data from the logs as it correlates with the University Rich Well and Cactus well from a pay, porosity, and resistivity perspective. In addition, we have some preliminary data from the core analysis and, as expected, the results show us that the rock qualities in this Founders B-19 well are very similar to the University Rich Well that we previously drilled."

Will McAndrew III, COO of Torchlight, said: "We will have all data evaluated and determine the optimal zone(s) and best design for the frac job that comes next. We are encouraged by what we are seeing and expect to achieve the next step result in our Orogrande development which is to produce oil. Once we have viable production proven, we will map out our plan for additional vertical control wells and developmental horizontal locations."



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