Torchlight Energy Resources, Inc. (NASDAQ: TRCH) Breaking News -
December 13, 2017

BREAKING NEWS - Torchlight Energy Provides Operational Update

PLANO, TX -- 12/13/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an operational update on its projects.

Hazel Project:

Flying B Ranch #3:

To date the Flying B Ranch #3 has attained a highest measured production rate of 465 BOPD and 248 MCFPD of gas as the well continues to clean up with 45% of load water recovered. Torchlight reports continually improving oil cuts as high as 30% and over 12,000 barrels of oil produced thus far. The recent production rates are comparable to other Midland Basin Wolfcamp A wells with 5,000 foot Laterals and on par with Torchlight's expectations for the well. Permanent production facilities are being installed and the Company is negotiating to market any gas not used for operations.

Flying B Ranch #4:

A new well in the Hazel Project, named the Flying B Ranch #4, was permitted, drilled and reached vertical total depth as outlined under the Company's lease requirements. Torchlight plans to continue to weigh the production data from the Flying B #3 before deciding on which zone to target for a horizontal objective in the well. The well configuration is set up for a 7,500' or 10,000' lateral to be drilled after evaluation.

Torchlight confirmed that it's horizontal development thesis has been proven in the Hazel asset and is planning to enter the next phase for the project. Along with operational planning, the Company will be considering reserve potential and multiple scenarios for entering development at the lowest available cost of capital.

Orogrande Project:

University Founders A25H:

Torchlight's next Orogrande Basin Project well, the University Founders A25 #1H has been spud and the Company is currently preparing to drill below intermediate casing at ~3,000 feet. The wellbore design is such that the casing size is sufficient to allow Project Geologist Rich Masterson to acquire all necessary scientific data, cores and sophisticated well logs to identify an entry point for the lateral section and proper isolation of zones behind pipe. Management recently documented progress during a field visit to the Orogrande Basin Project and that media is available from the Company website at www.torchlightenergy.com.

Torchlight and McCabe Ventures continue to hold discussions with potential industry partners suitable to move the project into development. Torchlight currently holds a 67.75% working interest in the highly prospective 133,000-acre play.

Delaware Basin Project:

The Company expects that its recently announced Delaware Basin Project with McCabe Ventures and MECO IV, LLC will provide for 20 new, 10,000-foot extended reach lateral well locations in an area of Winkler County, Texas close to significant peer group activity. The lease is well situated for long laterals and nearby wells have produced significant total reserves per lateral well bore. Torchlight expects to begin operations on this Project by Second Quarter 2018 and is carried for the first well by MECO IV, LLC under the terms of the purchase and sale agreement.

"We are pleased to demonstrate meaningful horizontal production in the Wolfcamp A section of our 12,000-acre lease," stated John Brda, CEO of Torchlight. "We expect that this asset will be developed employing extended laterals of up to 10,000 feet in length providing Torchlight with between 30 and 100 new Wolfcamp A well locations alone, depending on spacing. With only one productive horizontal bench of three we have seen and targeted in this field, our total number of supported horizontal locations could be well over 200 in total." Brda went on to state, "Our recent success in the Midland Basin Hazel Project is a testament to the knowledge and technological expertise that Rich Masterson, Greg McCabe, and Scott Kimbrough bring to our team. We look forward to applying the same experience in our Delaware Basin asset and most importantly, to the proving up of our Orogrande play. Our technical team has in depth knowledge on how to discover and produce out of new plays and pay zones. This is exemplified by the original development of the Wolfbone by Rich Masterson which today is a well-known and highly productive play. We are currently in the process of observing a similar development as part of our Hazel play. In addition to the Orogrande and Delaware Basin acreage, Torchlight is well positioned to deploy technology and know-how into additional assets it continues to evaluate for partnerships and acquisitions. We are excited to accelerate our growth through the drill bit and corporate strategies."

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains 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 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 the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could 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.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: Torchlight Energy Resources, Inc.

Torchlight Closes Delaware Basin Transaction

PLANO, TX -- 12/05/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), previously announced on November 16th that the Company had entered into a transaction with Greg McCabe and an independent private E&P out of Denver to enter into the Delaware Basin and to provide $6 million of liquidity for Torchlight. Today, the Company announces that the transaction has been closed between MECO IV, LLC out of Denver and Greg McCabe. Therefore, the Company has received the $6 million and has received the Working Interest and Carry in the Winkler County project.

"We are happy to get this transaction closed," stated John Brda, CEO of Torchlight. "We look forward to working with MECO IV as the operator on the project and drilling some nice wells with them in an area that is seeing a lot of activity. In addition, the liquidity will be a huge help as we continue to develop the Hazel Project and the Orogrande Project."

Sam Winegrad, co-founder of MECO IV, stated, "We are excited to be a part of this transaction with Torchlight. MECO will be adding 690 net acres and approximately 50 BOEPD to its current Winkler and Ward County, Texas position. More importantly we will have the opportunity to significantly increase that production through horizontal drilling in multiple zones in an area of the Delaware Basin that is experiencing a rapid growth in activity with excellent results. We look forward to commencing drilling operations in the first half of 2018."

MECO IV, LLC is an established Permian Basin Operator managed by Sam Winegrad and Thomas Corley. MECO IV was founded in 2014 and is funded by a consortium of private equity, institutional and high net worth investors in addition to management. MECO IV's current assets are concentrated in the Delaware Basin. Messrs. Winegrad and Corley have built and sold previous companies under the Meritage Energy name in the Permian Basin.

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains 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 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 the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could 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.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: Torchlight Energy Resources, Inc.

Torchlight Takes Back Control on the Orogrande Project With Farm In

PLANO, TX -- 11/16/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the Company will take back operational control from Founders Oil and Gas on its Orogrande Basin Project. Torchlight will be joined by Wolfbone Investments, LLC, ("Wolfbone"), a company owned by Greg McCabe, Torchlight's Chairman. The two entities have entered into a Farm In Agreement with Founders and will share the remaining commitments under the prior agreement with Founders. All original provisions of Torchlight's carried interest will remain in place including reimbursement to the Company on each wellbore. Founders will remain a 9.5% Working Interest owner in the project under the agreement for the $9.5 million it has spent to date and be carried until the remaining $40.5 million is spent by Wolfbone and Torchlight under the existing agreement. Torchlight's interest in the Project will increase by 20.25% Working Interest to a total of 67.75% and Wolfbone will also own 20.25%.

Founders will operate a newly drilled well called the University Founders #A25 with supervision from Torchlight and its Partners. The University Founders #A25 will be drilled starting on or about the 25th of November and satisfy the obligation under the University Lands D&D Agreement. Once the #A25 is completed Torchlight will assume full operational control including managing drilling plans and timing for all future wells drilled in the Project.

"This is an important step forward in Torchlight's evolution," stated John Brda, CEO of Torchlight Energy. "Having operational control of one of our core assets, the Orogrande, is impactful to our growth as a company. We are excited to get started on the next phase of developing this project and to have the continued and further support from our Chairman Greg McCabe and Wolfbone Investments, LLC. His bullish view on the Project and willingness to invest substantial capital is a great vote of confidence in management and our asset base."

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains 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 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 the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could 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.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: Torchlight Energy Resources, Inc.

Torchlight Enters Agreements to Enter Prolific Delaware Basin

Upon Closing, to Receive $6 MM in Cash Liquidity and Carried Interest in Acreage

PLANO, TX -- 11/15/17 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the Company has contracts in place to enter into an acreage position in the prolific Delaware Basin Wolfbone play in Winkler County, TX through transactions with its Chairman Greg McCabe and a private Denver Based E&P. The net effect of the transactions would provide Torchlight with 10.72% WI in a stacked 640-acre block in Winkler County that would allow for the drilling of 10,000 feet laterals. The acreage is expected to contain 5 prospective benches or "stacked pay zones" where as many as 20 long laterals could be drilled (based on current spacing). Additionally, the transactions provide for Torchlight to be carried to the tanks on the first well in the acreage block by the Denver based E&P, to be spud within 180 days of closing, and Torchlight is to receive approximately $6 million in cash.

Torchlight will issue McCabe a $3.25 million three-year interest only promissory note bearing interest at 5% per annum and 2.5 million shares of Torchlight common stock as a part of the transactions. There were no brokers involved in the transactions. Closing is set for on or before Nov. 29th, subject to certain closing conditions including title opinions.

"We are happy to announce these transactions," stated John Brda, Torchlight's CEO. "They will provide liquidity for our projects and give us exposure to the Wolfbone Play in the Delaware Basin. The acreage position lies in an area of Winkler County with excellent offset operators who have been achieving good drilling results. We look forward to participating in this play in mid-2018."

About Torchlight Energy

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.

Forward Looking Statement

This news release contains 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 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 the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could 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.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: Torchlight Energy Resources, Inc.

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About Torchlight Energy Resources:

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company currently holds interests in Texas where their targets are established plays such as the Permian Basin and the Eagle Ford Shale.

Overview

Torchlight Energy Resources Inc. is headquartered in Plano, Texas and is positioned as a junior oil and gas player with a primary spotlight on oil. Torchlight is focused on highly probable and profitable drilling and working interest programs that have a short window of payback, a high IRR, proven and bookable reserves, and are US based.

With a proven management team and tremendous access to pre-market deal flow, Torchlight Energy, will be poised for tremendous growth and consequently, tremendous public company multiples and valuation for our investors.

Business Process

There are three primary business processes that the company adheres to including Investment Evaluation and Review, Operations and Field Activities and Administrative and Finance Management. Each one of these business process offers the company an opportunity to seek a distinct partner or alliance as the company grows and expands its operations.

1. Investment Evaluation and Review. This is the first and primary step in the company’s operations as recognition of quality investment opportunities is key to Torchlight’s growth and profitability. Broadly, this process incorporates prospect acquisition, regional and local geological and geophysical evaluations, data processing, economic analysis, lease acquisition and negotiations, permitting and field supervision. This is where the company’s experienced management team can add the most value as they will be in charge of investment evaluation while expert or specific technical support will be outsourced as needed. If management decides to invest in a project and take it to development, only then will additional staff with very specific responsibilities be hired, which should help to keep fixed costs down. Building a network of advisors is key to the pipeline of high quality opportunities as many attractive investment opportunities could be presented from outside companies as well as from the large informal community of geoscientists and engineers. 


2. Operations and Field Activities. This business process only begins after the management approval of an investment and incorporates well site supervision, construction, drilling, logging, product marketing and transportation. Torchlight’s strategy is to very rarely be the actual operator; instead, the company plans to farm- out sufficient interests to third parties that will be responsible for these operating activities while the Company will provide personnel to monitor these activities and associated costs.


3. Administrative and Finance Management. This business process will be responsible for coordinating initial structuring and capitalization, general operations and accounting, reporting, audit, banking and cash management, regulatory agencies reporting and interaction, timely and accurate payment of royalties, taxes, leases rentals, vendor accounts and performance management that includes budgeting and maintenance of financial controls, as well as interface with legal counsel and tax and other financial and business advisors. These services are currently available from a variety of experienced sources; however, the company is working on identifying a single outsourced vendor that will provide all or a majority of these services.

Management Team

John A. Brda
President, Chief Executive Officer, Secretary and Director

Mr. Brda has been our President and Secretary and a member of the Board of Director since January 2012. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies—with a focus in the oil and gas sector. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. He graduated college in 1988 with a B.S. in Finance from Southern Illinois University, Carbondale, IL.

Roger N. Wurtele
Chief Financial Officer

Mr. Wurtele is a versatile, experienced finance executive that has served as Chief Financial Officer for several public and private companies. He has a broad range of experience in public accounting, corporate finance and executive management. Mr. Wurtele previously served as CFO of Xtreme Oil & Gas, Inc. from February 2010 to September 2013. Since May 2013 he has worked as a financial consultant for us. From November 2007 to January 2010, Mr. Wurtele served as CFO of Lang and Company LLC, a developer of commercial real estate projects. He graduated from the University of Nebraska and has been a Certified Public Accountant for 40 years.

Board of Directors

Gregory McCabe
Chairman of the Board

Mr. McCabe, from Midland, Texas, is an experienced geologist who brings over 32 years of oil and gas experience to the Company. He is a principal of numerous oil and gas focused entities including McCabe Petroleum Corporation, Manix Royalty, Masterson Royalty Fund, G-Mc Exploration. McCabe has been involved in numerous oil and gas ventures throughout his career and brings a vast experience in technical evaluation, operations and acquisitions and divestitures to the Torchlight Board. McCabe is Torchlight's largest shareholder and provided entry for the Company into its two largest assets, the Hazel Project in the Midland Basin and the Orogrande Project in Hudspeth County, Texas.

John A. Brda
President, Chief Executive Officer, Secretary and Director

Mr. Brda has been our President and Secretary and a member of the Board of Director since January 2012. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies—with a focus in the oil and gas sector. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. He graduated college in 1988 with a B.S. in Finance from Southern Illinois University, Carbondale, IL.

Alexandre Zyngier
Director

Mr. Zyngier founded Batuta Advisors in 2013 to pursue high return investment opportunities in the distressed and turnaround sectors. Mr. Zyngier has over 20 years of investment, strategy, and operating experience. He is currently a director of Atari SA, AudioEye, Inc. and a director of GT Advanced Technologies Inc. Mr. Zyngier has worked as a Portfolio Manager, investing in public and private opportunities, at Alden Global Capital, Goldman Sachs & Co. and Deutsche Bank Co. He was also a strategy consultant at McKinsey & Company and a technical brand manager at Procter & Gamble. Mr. Zyngier holds an MBA in Finance and Accounting from the University of Chicago and a BSc. in Chemical Engineering from UNICAMP in Brazil.

E. Scott Kimbrough
Director

Mr. E. Scott Kimbrough is the owner/operator of Maverick Oil & Gas Corporation, and other independent entities, which he has managed for more than 20 years. His diverse oil and gas background spans 39 years and includes roles ranging from field operations to senior corporate management. Mr. Kimbrough began his career with Arco Oil & Gas Company, followed by work with independents including Quintana Petroleum Corporation, Lasmo Energy, and Nearburg Producing Company. His focus has been in domestic US fields including the Permian Basin in West Texas and Southeast New Mexico, on and offshore Gulf Coast, Midcontinent, Rockies Mountain area and onshore California. Kimbrough received a Bachelor of Science in Business Administration from Louisiana Tech University, and Mechanical Engineering from Texas A&M University. He performed postgraduate studies at LSU and the University of Houston and is a Registered Petroleum Engineer in the State of Texas.

R. David Newton
Director

Mr. R. David Newton has more than 25 years of experience in management consulting from various positions he has held with US based investment firms. His focuses have been funding venture capital, channel distribution, startups, second and third stage financings, and corporate turn arounds. Mr. Newton brings a depth of relationships developed through decades of participation in corporate finance and operational skills developed while focused on helping growth stage entities in the oil and natural gas, aerospace and timber as well as various other industries.

Michael J. Graves
Director

Mr. Graves is a Certified Public Accountant, and since 2005 he has been a managing shareholder of Fitch & Graves in Sioux City, Iowa, which provides accounting and tax, financial planning, consulting and investment services. Since 2008, he has also been a registered representative with Western Equity Group where he has worked in investment sales. He is also presently a shareholder in several businesses involved in residential construction and property rentals. Previously, he worked at Bill Markve & Associates, Gateway 2000 and Deloitte & Touche. He graduated Summa Cum Laude from the University of South Dakota with a B.S. in Accounting.

PROJECTS

Midland Basin
Wolfcamp A&B

- 12,000 gross acres (9,600 net acres), 100% of which will be operated
- 75% Net Revenue Interest
- 19 contiguous sections with a potential of as many as 300 horizontal drilling locations targeting the Wolfcamp A and B formations
- Two vertical test wells successfully drilled verify horizontal potential. Horizontal drilling commenced in June 2017
- Based on analogous Midland Basin EUR’s – potential EUR’s of 4 to 6 million barrels per section
Prospective for the Leonard and Dean formations providing upside
- Wolfcamp ranges from 150 feet to 350 feet, requiring multiple horizontal legs per bench to fully drain. Potential EUR's are over 100,000 per 1000 ft. of lateral
- All field services are available within close proximity to the acreage including oil and gas pipelines.
- Well known Permian Basin expert Geologist, Rich Masterson (originator of the Wolfbone Play) is residing geologist for Project
- Continuous drilling clause on the lease starting in July of 2016; Torchlight is obligated to drill one well (vertical or horizontal) every six months to hold the entire ~12,000 acre block (2 wells drilled every six months after June 2018)
- Torchlight plans to manage Capex by farming out to industry partners to cover costs (similar effort to Orogrande Basin Project)

Orogrande Basin
Hudspeth County, TX

- Torchlight owns 47.5% working interest upon full $50 mm spend commitment from operating partner, Founders Oil and Gas. - 133,000 acres
- Targeting 1300’ of pay – described as WolfPenn
- Primary Pay zone is Pennsylvanian at 5200-6100
- Pay zone depths – 4000’ to 6100’
- Oil and high BTU gas – 80/20 mix expected
- Basin formed at the same time as Delaware and Midland basins
- Lease covers majority of the basin in Texas
University Lands with excellent lease terms (5 yr. with 5 yr. extensions - single drilling unit on University Block)
- If 100,000 acres prove prospective - project would yield 156 Sections
- Based on analogous Midland Basin EUR’s – potential EUR’s of 4 to 6 million barrels per section
- Well known Permian Basin expert Geologist, Rich Masterson originated the Wolfbone Play and developed thesis for the Orogrande Basin (WolfPenn)

Delaware Basin
Winkler County, TX

- 640 gross (67.2 net acres), 10.72% WI (non-operated)
- MECO IV to operate the leasehold
- Rich Masterson (geologist) originated project
- 75% NRI on the project
- 10,000 foot laterals
- First well to spud in Q2 of 2018
- Contains five prospective benches or “stacked pay zones” where as many as 20 long laterals can be drilled
- Primary Targets
>Wolfcamp A&B
>Upper 2nd Bone Spring
>Lower 2nd Bone Spring
- Over pressured
- Excellent offset production in Winkler County

SOURCE: http://www.torchlightenergy.com/

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