Torchlight Energy Resources Inc. (NASDAQ:TRCH) announced that the pilot hole of the University Founders A25 well in Orogrande has reached a vertical total depth of 5,900 feet. The results indicate excellent potential pay in approximately 300 feet of the Pennsylvanian formation, the company’s primary target.
As quoted in the press release:
Imaging, rock properties and reservoir evaluation logs have been successfully run and the results of those logs have indicated excellent potential pay in approximately 300 feet of the Pennsylvanian formation, the Company’s primary target. Torchlight obtained rotary sidewall cores as well that are being analyzed. The overall Pennsylvanian zone is approximately 700 feet and the Company will focus on a 300 foot section that was high-grade.
The horizontal target, which is at a depth of approximately 5540 feet. Torchlight is planning on drilling the horizontal leg to a distance necessary to test the lateral potential and then will set casing, design and prepare stimulation process for the well.
Rich Masterson, project geologist at Torchlight, commented:
I have had a chance to review all of the logs and have identified excellent potential pay in the Pennsylvanian formation in this well,” stated Rich Masterson, renowned geologist. “The logs and cuttings showed oil along with background gas as expected. In addition, the imaging log we ran showed us the orientation of the rock, the depth of our target zone for the horizontal and best direction to drill that horizontal leg. This is the first time we have been able to get this information in the Orogrande and its extremely important in identifying potential gremlins that may be present down hole. We are looking forward to getting the horizontal section drilled and cased and subsequently preparing for stimulation.”
John Brda, CEO of Torchlight, commented:
This is a very important step in the progression of the Orogrande Project. We have about 300 feet in our primary target zone with extremely promising rock qualities, approaching reservoir quality rock, with very high permeability and porosity. This will be our target zone for the lateral leg of the A25 well. Once we get the lateral drilled and casing set, we will release the rig and plan out the stimulation of the well.