Thursday, July 7, 2016

"The rocks are viable for production"

So saith Rich Masterson, the consulting geologist to Torchlight Energy Resosurces, and perhaps the father of the coming decimation of the Otero Mesa/Diablo Plateau ecosystem just next door to El Paso, Texas.

Masterson is quoted in a July 5, 2016 newsroom report from Market WiredTorchlight Announces Scientific Information on University Founders B-19 Well #1 in Orogrande and Plans for Completion. Founders B-19 Well #1 is one of Torchlight's test wells in Hudspeth County just across the county line from El Paso, Texas. Here's a longer quote from Masterson cited by Market Wire:

"We are encouraged with the initial results from the scientific component of the Founders B-19 #1 well," stated Rich Masterson, Torchlight's consulting geologist. "The scientific information gathered to date gives every indication that the University Founders B-19 #1 well is as good or better than the Rich A-11 #1 well. To this point in the geological evaluation, rock brittleness looks very good with low frac gradients, good oil cuts in samples and cores and excellent porosity and matrix permeability for oil shales. We are also seeing good calcite and dolomite cementation and low clay content. The University Founders B 19 #1 well is comparing closely to analogies in the Midland Basin Wolfcamp A and B and Lower Spraberry. Production will be validated once the frac is delivered in the coming weeks and providing a successful frac is delivered, the rocks are viable for production."

". . . the rocks are viable for production." Read it and weep. Now here is more to make you really bawl and tremble: the investment community is catching on. 

In his energy report for Streetwise Report, Shining a Light on Torchlight Energy, Bob Moriarty had this to say yesterday about Torchlight: "At $70-$80 oil Torchlight would probably be a billion dollar company." (In case you haven't noticed, the price of oil is leaping upwards.)

The current price (right now as I type this) for TRCH on the NASDQ is $1.30. If you are into fracking, here is a bargain. If you aren't and shouldn't be, then you may want to do some trips soon from the Huecos to the Guadalupes to enjoy the beauty of the mesa. Before too long that beauty will be gone.

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