Torchlight Issues Update on #4 Buda Well in Wilson County, Texas
HOUSTON, July 14, 2011 /PRNewswire/ -- On July 1, 2011, Torchlight Energy Resources, Inc. (OTCBB: TRCH) and its partner spud the Johnson #4 in the Marcelina Creek block in Wilson County, Texas. The well is located approximately 3 miles NW of the Karnes County border and just south of the town of Poth.
The well reached total targeted depth of 8540 feet. The well has been logged. The well penetrated the Austin Chalk, Eagle Ford, and Buda Formations. Torchlight and its partner are evaluating the logs to decide which zone or zones in which to complete.
This is the first of a three well program to test the Buda in the Marcelina Creek area and to earn a 75% interest in the block. As many as 14 Buda and 9 Eagle Ford wells can be drilled on the acreage.
You can view more information on the company's website at www.torchlightenergy.com.
FORWARD LOOKING STATEMENTS
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.