HOUSTON, May 17, 2011 /PRNewswire/ -- Torchlight Energy Resources, Inc. (OTCBB: TRCH) had previously announced that it has funded the necessary capital to Bayshore Operating for the drilling and completion of the second well in Torchlight's four well commitment. Today, Torchlight announces that the move-in date for the rig and spud date for this well will be on or about May 31, 2011. Currently, the operator is in the process of getting the site ready for the drilling process. The drilling and completion should take 3 to 4 weeks from start to finish.
"We are very excited about this drilling location," stated CEO, Tom Lapinski. "We will be targeting the Buda formation on this vertical well. The location is a direct offset to existing production. The total drilling depth will be approximately 8500 feet. A log suite will be run upon completion, evaluating the Buda and the over lying Eagle Ford and Austin Chalk formations."
You can view more information on the company's website at www.torchlightenergy.com.
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with our ability to obtain additional capital in the future to fund our planned expansion, the demand for oil and natural gas, general economic factors, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Torchlight Energy Resources, Inc.