Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The section on Neurotrope highlights the fact that moderate to severe AD patients are the target group:
Neurotrope, Inc. (NASDAQ: NTRP) was started as Buy with a $14 price target (versus $6.36 prior close) at Janney. The firm noted that its Bryostatin could hold promise in Alzheimers Disease and noted that Neurotrope’s bryostatin-1 is currently the only candidate in clinical development for patients with moderate to severe AD.
Data from two Phase II studies and an expanded access program are said to suggest encouraging efficacy, including a statistically significant improvement in cognition in a subgroup of patients who are not taking concomitant memantine treatment. Phase II complementary data is expected to be reported in the second half of 2019 and should lead to strong stock movement if the data is positive.
24/7 Wall St.
States Where Alzheimer’s Is Soaring
Janney’s Yun Zhong also noted here that even a modest penetration in the Alzheimer’s Disease market can produce a blockbuster ($1 billion in annual sales).
He said:
In a 147-patients Phase II dose finding study, statistical improvement in cognition was achieved in patients who completed the entire study (p=0.029) and the largest improvement was detected in a subgroup of patients who were not receiving concomitant memantine treatment (p=0.012). The interaction between PKC and the NMDA receptor (memantine is a NMDA receptor antagonist) may have been the reason and the ongoing confirmatory study is enrolling patients who are not taking memantine so should have an enhanced likelihood of success… We project bryostatin use only in patients with moderate to severe AD but are not taking memantine, following the patient population enrolled in the confirmatory Phase II study. We apply a 20% probability of success to the program and forecast peak U.S. market penetration to be below 10%. We reach U.S. sales of over $1.2B in 2032, which we believe should be conservative when compared to historical sales of FDA-approved therapeutics for AD.
Shares of Neurotrope were last seen up over 4% at $6.66, but investors should make note that the market cap is just $86 million. The shares also have a 52-week range of $3.33 to $11.93 to prove how volatile and speculative the company is.
Again, these are all-or-none calls. It should also be considered that even the biggest and best of pharmaceutical and biotech companies have so far failed to even break the surface in really offering a serious treatment for Alzheimer’s Disease and dementia-related disease that plague society. In short, these companies face a very uphill battle and their predecessors have so far failed to even reach a truce (let alone win).
Two Very Speculative Biotechs With Promising Alzheimer’s Treatment Hopefuls
Jmcekc posted this on StockTwits:
$NTRP Coukd see a nice uptick next week. We just broke through resistance on chart, and with upcoming data release we should start to see increased volume. While still way under radar, at least some news is also percolating, such as this article:
https://247wallst.com/healthcare-business/2019/06/18/two-very-speculative-biotechs-with-promising-alzheimers-treatment-hopefuls/amp/
The Author concludes the section on Anavex:
“Anavex comes with a relatively high short interest as well, implying that investors are betting that the company will not produce positive outcomes. Anavex had a short interest of almost 4.2 million shares on last look.”
The PDF of the Janney report has been posted on the IV board by InTheTrenches:
https://www.investorvillage.com/smbd.asp?mb=19529&mn=648&pt=msg&mid=19520543
Hopefully Dr. Alkon's interview is widely distributed:
Feature Story News (FSN) is an international broadcast news agency providing news coverage, live reports and news packages to television and radio stations around the world.
Television clients of FSN include:
PBS NewsHour (USA), Channel 4 News (UK), Good Morning Britain (UK), ITN News (UK), Channel News Asia (Singapore), TV3 (New Zealand), TRT World (Turkey), Fox News Channel (USA), CGTN (China), WION (TV channel) and Al Jazeera.
(the above is from Wikipedia)
Daniel Ryntjes is Business News Editor of FSN, Washington Correspondent and Videographer. Experienced in television, radio and online reporting and video production. Skills include investigative reporting, editorial management, script editing, presenting, camera and video editing. Coverage areas include political, humanitarian, diplomatic, economic, financial and business affairs.
It is always nice to have an "altruistic" skeptic point out the flaws in the investment thesis of committed investors in a particular stock. Thanks for trying to save us from our own folly!
But the first question that runs through my mind is are they even a stockholder, followed by are they betting in the option market on failure, or are they short the stock, or maybe they have a hidden agenda with some hedge fund.
In the case of Neurotrope it seems that Investor2014 and the other gadflies
on the board also are wagering on another horse in the race to find an effective treatment for AD.
Excellant point Whatsupp. It is not small investors who have been responsable for the recent price appreaciation in NTRP stock:
MYDA Advisors LLC Takes $690,000 Position in Neurotrope Inc (NTRP)
Posted by Kelly Messenger on Jun 7th, 2019
MYDA Advisors LLC acquired a new stake in Neurotrope Inc (NASDAQ:NTRP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 126,685 shares of the company’s stock, valued at approximately $690,000. MYDA Advisors LLC owned 0.98% of Neurotrope at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Neurotrope by 17.9% in the 1st quarter. BlackRock Inc. now owns 24,577 shares of the company’s stock worth $134,000 after purchasing an additional 3,729 shares during the period. Raymond James & Associates purchased a new stake in shares of Neurotrope in the 4th quarter worth approximately $42,000. Renaissance Technologies LLC lifted its position in shares of Neurotrope by 72.4% in the 3rd quarter. Renaissance Technologies LLC now owns 50,000 shares of the company’s stock worth $441,000 after purchasing an additional 21,000 shares during the period. Finally, Eaton Vance Management purchased a new stake in shares of Neurotrope in the 4th quarter worth approximately $164,000. 13.87% of the stock is owned by institutional investors.
redspin, I was at Dr. Alkon’s presentation two days ago at the University of the Sciences in Philadelphia, it is a private university and not associated with the Ivy League University of Pennsylvania. There were at least 120 attendees and was hosted by InvestAcure www.investacure.com. At least a dozen small bio-tech companies in the AD research field made 15 minute presentations. Dr. Alkon, I thought, was the most well received judging by the audience applause.
I have attended many stockholder meeting over the years and I have always found it to be valuable to be able to discuss, face to face, questions concerning my investment. Weather you are a skeptical stockholder or a committed investor it is a great opportunity to make suggestions that may, in the end, improve the company and its relationship to investors. For those that cannot attend I am going to encourage NTRP to webcast the meeting.
To Our Stockholders:
You are cordially invited to attend the 2019 annual meeting of stockholders of Neurotrope, Inc. to be held at 10:00 A.M. EST on Tuesday, July 23, 2019, at the offices of Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., located at 666 Third Avenue, New York, New York, 10017.
Details regarding the meeting, the business to be conducted at the meeting, and information about Neurotrope, Inc. that you should consider when you vote your shares are described in this proxy statement.
At the annual meeting, nine persons will be elected to our Board of Directors. In addition, we will ask stockholders to approve a proposed amendment to the Neurotrope, Inc. 2017 Equity Incentive Plan to increase the aggregate number of shares available for the grant of awards by 850,000 shares, to ratify the selection of Friedman LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2019, and to approve the compensation of our named executive officers, as disclosed in this proxy statement. The Board of Directors recommends the approval of each of the first three proposals. Such other business will be transacted as may properly come before the annual meeting.
Under Securities and Exchange Commission rules that allow companies to furnish proxy materials to shareholders over the Internet, we have elected to deliver our proxy materials to the majority of our shareholders over the Internet. This delivery process allows us to provide shareholders with the information they need, while at the same time conserving natural resources and lowering the cost of delivery. On or about June 5, 2019, we began sending to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our proxy statement for our 2019 Annual Meeting of Shareholders and our 2019 annual report to shareholders. The Notice also provides instructions on how to vote online and includes instructions on how to receive a paper copy of the proxy materials by mail.
We hope you will be able to attend the annual meeting. Whether you plan to attend the annual meeting or not, it is important that you cast your vote either in person or by proxy. You may vote over the Internet as well as by mail. When you have finished reading the proxy statement, you are urged to vote in accordance with the instructions set forth in this proxy statement. We encourage you to vote by proxy so that your shares will be represented and voted at the meeting, whether or not you can attend.
Thank you for your continued support of Neurotrope, Inc. We look forward to seeing you at the annual meeting.
Sincerely,
From the Neurotrope website: (This should be a very informative day with both Dr. Alkon and Dr. Perry on the program).
https://neurotrope.com/
George Perry, Ph.D.
Board Director
Dr. Perry is dean of the College of Sciences, professor of biology, and holds the Semmes Foundation Distinguished University Chair in Neurobiology at The University of Texas at San Antonio. He is recognized in the field of Alzheimer disease research, where he has studied every aspect of the disease, including amyloidosis, oxidative stress, cytoskeleton, metal homeostasis, cell cycle reentry, and mitochondria. For almost 20 years, Dr. Perry has been a strong advocate for greater diversity in ideas to move the field forward.
He is distinguished as the top Alzheimer’s disease researcher by Expertscape with over 1,000 publications, one of the top 100 most-cited scientists in neuroscience and behavior, and one of the top 25 scientists in free radical research. He is editor for numerous journals and is editor-in-chief for the Journal of Alzheimer’s Disease, the most cited and prolific journal in Alzheimer research. He is a fellow of the American Association for the Advancement of Science, Texas Academy of Science, the Microscopy Society of America, and past-president of the American Association of Neuropathologists.
Dr. Perry obtained his Bachelor of Arts degree in zoology with high honors from University of California, Santa Barbara. After graduation, he headed to Scripps Institution of Oceanography, Hopkins Marine Station and Woods Hole, and obtained his Ph.D. in marine biology. He then received a postdoctoral fellowship in the Department of Cell Biology at Baylor College of Medicine. In 1982, Dr. Perry joined the faculty of Case Western Reserve University, rising to Professor and Interim Chair of Pathology, and currently holds an adjunct appointment.
Also, just posted on the Neurotrope twitter account:
https://twitter.com/Neurotrope1
"...we strongly urge the FDA to expand the Parallel Track to target these devastating diseases."
Fred Trump, father to Donald was an AD victim. While he ultimately died of pneumonia, a fate of many AD sufferers, he had late-onset AD, characterized as Alzheimer’s that appears at 65 years of age or older. Trump will be 73 next month. Some would say he is already showing signs of Cognitive Decline...not something I would want to debate on this board. But who knows, Neurotrope investors might be the beneficiaries of a tweet or two if our results are confirmatory and The Donald gets wind of it.
Excellant point Doc:
"Yes they would pay. The "payment" is a tax incentive to spur on more clinical trials in Australia --"
That puts to rest the lie that the AU government is funding AVXL on the basis of dubious scientific claims.
Post that over on the AVXL board, it will probably tank the stock.
If the results of the Confirmatory Phase 2 study are successful it will transform the research and treatment of AD
The following excerpts are from Neurotorpe’s FDA approved Confirmatory Phase 2 study proposal of using Byrostatin in treating advanced Alzheimer’s patients (bold added):
Journal of Alzheimer’s Disease 67 (2019) 555–570 DOI 10.3233/JAD-180759 IOS Press
A Randomized, Double-Blind, Placebo-Controlled, Phase II Study Assessing Safety, Tolerability, and Ef?cacy of Bryostatin in the Treatment of Moderately Severe to Severe Alzheimer’s Disease
Martin R. Farlowa, Richard E. Thompsonb,1, Lee-Jen Weic,1, Alan J. Tuchmand, Elaine Greniere, David Crockforde, Susanne Wilkee, Jeffrey Benisone and Daniel L. Alkone,* aIndiana University Medical School, Indianapolis, IN, USA bJohns Hopkins Bloomberg School of Public Health, Baltimore, MD, USA cHarvard University, Boston, MA, USA dNew York Medical College, Valhalla, NY, USA eNeurotrope, Inc., New York, NY, USA
Handling Editor: Paula Moreira
Accepted 12 November 2018
Abstract. Background: Bryostatin-activated PKC epsilon pre-clinically induces synaptogenesis, anti-apoptosis, anti-amyloid-oligomers, and anti-hyperphosphorylated tau.
Safety
Overall, patients in the 20 g treatment arm demonstrated minimal differences from the placebo patients in safety assessments (see Table 1). Both groups had similar numbers of TEAEs (28 events in the placebo group versus 30 events in the 20 g group). In contrast, patients in the 40 g treatment arm, observed below (as expected) to have no ef?cacy, had signi?cantly greater TEAEs (57 events) than patients in either of the other treatment arms.
Exploratory analyses
Finally, in the trend analyses, we found that the SIB values did not increase overtime for the placebo patients under the MMRM models, resulting in slopes that were non-signi?cantly different from zero (e.g., ‘zero-slopes’). In contrast, the SIB slopes for the 20 g bryostatin patients who did not receive baseline memantine were found to be statistically signi?cant…
…the memantine naive patients in the 20 g bryostatin arm showed evidence of sustained bene?t of SIB improvement from baseline over the course of the trial. This evidence was also apparent for the patients in the unadjusted FAS (or mITT) and more apparent for the unadjusted memantine free patients (Fig. 7A, B).
DISCUSSION
It is also worth re-emphasizing that the memantine, often used for symptomatic relief, here blocked all signals of bryostatin induced SIB improvement. Chronic memantine drug therapy has not been shown to have lasting bene?t. Testing for the interaction of memantine baseline therapy with bryostatin ef?cacy was pre-speci?ed (in the Statistical Analysis Plan) when the data were still blinded, prior to unblinding and data analysis. For the effective 20 g dose, in the absence of baseline memantine, only 1 in 16 patients showed a SIB decline for the week 13–week 15-week endpoint. In contrast, 9 in 22 patients in the patient group receiving 20 g bryostatin while on memantine, and 20 in 36 placebo patients showed a SIB decline.
The totality of these analyses, therefore, suggest that the trial showed evidence of bryostatin’s SIB improvement signals, in the absence of baseline memantine, that warrant further trials to evaluate bryostatin’s potential utility to improve cognitive function(s) as well as to provide symptomatic relief and/or to delay cognitive decline of patients with moderately severe to severe AD.
https://neurotrope.com/wp-content/uploads/2018/12/JAD180759.pdf
Essentially a re-write of the NPR piece "After A Big Failure, Scientists And Patients Hunt For A New Type Of Alzheimer's Drug".
As we get closer to Top Line results I would expect many more articles about Neurotrope and Byrostatin.
Seeing an update by Maxim Group, or a larger firm initiating coverage would be helpful.
The Alzheimer's Solution Conference, where Dr. Alkon will be one of the featured speakers, has a broad audience of researchers, physicians, funders, and patient families and will hopefully generate additional interest.
That is not what happened "last time" when NTRP released the first P2 trial results PR. It was released with an incomplete data set, before the company did its own statistical analysis, and before they had the break-out trial results of the non-memantine AD patients.
Neurotrope will not make the same mistake twice.
As to the timing of the results, my expectation is the release will be in the fall of this year after the company has enough of the data to be absolutely sure of the claims they will make in Top Line PR.
The 10Q clearly states non-memantine positive results in 20ug patients:
If NTRP gets similar results in the Confirmatory P2 it is going to represent a major breakthrough in AD treatment (with implications for many other cognitive disorders)
At week 15, non-memantine patients in the mITT Group treated with 20 µg (n=14) showed an SIB improvement of 5.88, while the placebo patients (n=11) showed a decline in their SIB scores of -0.05 for an overall treatment ? of 5.93 from baseline (p=0.0576).
At week 15, non-memantine patients in the Completers Group treated with 20 µg (n=14) showed an SIB improvement of 6.24, while the placebo patients (n=11) showed a decline in their SIB scores of -0.12 for an overall treatment ? of 6.36 from baseline (p=0.0488).
Patients taking memantine as background therapy in the 20 µg (n=20) and control (n=22) groups showed no improvement in SIB scores.
https://last10k.com/sec-filings/ntrp/0001144204-19-024943.htm?utm_source=stocktwits&utm_medium=forum&utm_campaign=10KQ2040F&utm_term=ntrp#link_fullReport
Statements like "With zero news coming for months" are not credible. For instance, a competent lawyer would never make such a statement without knowing with certainty the answer and I doubt you have any insider information to back up your bold assertion that NTRP if going silent.
I can just as well make the opposite prediction that news is imminent.
Care to place a bet???
Yesterday's call option volume and recent stock price trend indicate positive expectations for Confirmatory Phase 2 trial by investors, IMO.
I'll probably attend as I will be on the east coast that weekend.
This conference will have a large audience from diverse backgrounds including caregivers, researchers, and investment pros.
If I do attend I'll record Dr. Alkon's presentation and hopefully speak with him.
Dr. Alkon, Neurotrope’s Chief Scientific Officer is a featured speaker at the June 3rd Alzheimer’s Solutions Conference in Philadelphia, PA
This conference is open to anyone that registers unlike so many investment and scientific AD conferences. If you are in the Philadelphia area and are able to attend you probably will be able to meet Dr. Alkon.
https://www.investorvillage.com/smbd.asp?mb=19529&mn=602&pt=msg&mid=19394234
Reality:
When Bryostatin 1 is used to prevent severe Alzheimer's Anavex won't have a market.
ROTH CAPITAL John M. White
TRCH: Disputing White Diamond Research Report
On 4/29/2019, White Diamond Research published a report on TRCH, highlighting what are, in the opinion of White Diamond, negative aspects of TRCH’s business. In the report, White Diamond states it has a short position in the shares of TRCH. According to Eikon, the short interest in TRCH on 1/3/2019 was 1.6 million shares and on 4/18/2019 was 4.4 million shares, an increase of 175%.
White Diamond states it is short the shares of TRCH because White Diamond believes it is a classic pump-and-dump scheme run by a questionable management team. We infer “pump and dump" means a form of securities fraud that involves artificially inflating the price of a stock through false and misleading positive statements in order to sell the stock at a higher price.
After reading the White Diamond report, it was obvious to us that the White Diamond research team does not know the basics of the TRCH story. This is because White Diamond made no mention of the originators of the Orogrande Project, Gregory McCabe, Chairman of the Board and Rich Masterson, Consulting Geologist.
Concerning the “pump” portion of this accusation, we are not aware of any “false and misleading positive statements” by TRCH. The press releases and presentations by TRCH have contained the plans for and results of drilling, testing and geological and geophysical work performed on TRCH’s Orogrande Basin acreage. In our view, TRCH’s drilling and testing results have met or exceeded our expectations.
Concerning the “dump” portion of this accusation, we don’t see any evidence of this. Gregory McCabe, TRCH’s Chairman of the Board, is the largest shareholder, with 16.1 million shares representing 22.4% of the ownership of TRCH. TRCH advises us Mr. McCabe has not sold any of his TRCH common stock since acquiring his shares. In addition, Mr. McCabe has invested, according to TRCH, approximately $12 million in cash in the drilling, testing and geological and geophysical work performed on TRCH’s Orogrande Basin acreage. Mr. McCabe and his related oil and gas companies own a 25% interest in the Orogrande Project, separate and distinct from his ownership of TRCH common stock. John A. Brda, CEO, owns 2.3 million shares or 3.2% of the TRCH equity.
Important Disclosures & Regulation AC Certification(s) are located on page 7 to 8 of this report. Roth Capital Partners, LLC | 888 San Clemente Drive | Newport Beach CA 92660 | 949 720 5700 | Member FINRA/SIPC
Gregory McCabe is from Midland, Texas and is an experienced geologist who has over 32 years of oil and gas experience. Rich Masterson is a Consulting Geologist for TRCH. Mr. Masterson is very well known and enjoys an excellent reputation within the industry. Mr. McCabe and Mr. Masterson partnered to develop the Orogrande Project.
Since late 2014, our U.S. onshore E&P research has had a Permian Basin focus. In the course of our work, we have met and developed numerous relationships with public and private management teams, consultants and private equity professionals. Prior to initialing coverage of TRCH, we were well aware of the Orogrande Project and Messers. McCabe’s and Masterson’s efforts. Again, our channel checks indicate both enjoy an excellent reputation in the Permian Basin E&P industry.
The White Diamond report contained a summary with, among other items, the following points:
White Diamond: Torchlight Energy has an enterprise value of over $130M. The company's entire perceived value is based on possible oil in its Orogrande Project. Our response: This is, in our opinion, a true statement.
White Diamond: TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much higher than today. Our response: This is true but we don’t understand what it means. TRCH’s Orogrande Project is a large spread of oil and gas leases in the Orogrande Basin. There is no meaningful oil and gas production in the entire Orogrande Basin and as such, the acreage traded for a nominal value, reflecting, in our view, the lack of production on the leases, the lack of production from any nearby leases and the exploration risk of the leases
White Diamond: In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. Our response: White Diamond makes this bullet point sound like TRCH told investors one thing but did another. The facts are that TRCH announced its intention to sell its Hazel Project and in the press release explained the proceeds would be used to develop the Orogrande Project. The offering of common stock was announced on 4/18/2018, only ten days from the Hazel announcement.
In our view, it is common knowledge in the industry that executing divestitures of oil and gas properties typically take a minimum of 60 to 90 days. Additionally, it is common knowledge in the industry that the market for divestitures of small and mid-sized properties has been weak and apparently TRCH has not seen an acceptable offer. However, the Hazel Project is still being marketed for sale.
In the press release on the stock offering, TRCH stated a portion of the proceeds would be used to meet its drilling obligations at its Hazel Project and the remainder would be deployed to develop the Orogrande Project. If TRCH did not meet its drilling obligations some of its Hazel leases would have expired. TRCH chose to meet its drilling obligations to keep the acreage block intact. TRCH has advised us the Hazel wells have been drilled.
White Diamond: In April 2019, TRCH said it will sell its Orogrande Project, but we don’t believe that will ever happen. Our response: Again, TRCH’s decision to market its Orogrande Project was just made this month. This marketing effort is, in our view, going to take a considerable amount of time, likely several months. White Diamond offers no analysis supporting its opinion that the sale will not occur.
In fact, during early 2019, a number of the major oil companies have been signaling in public appearances their intention to increase their exposure to U.S. onshore assets, in particular, West Texas. Recently, CVX (CVX-NC) announced an agreement to acquire Anadarko Petroleum (APC-NC), valued at $33 billion at the time of the announcement. This offer has been countered by Occidental Petroleum (OXY-NC) with a $38 billion offer. One of APC’s primary assets is its Permian Basin holdings in West Texas.
Other:
Regarding Mr. Brda’s involvement in certain legal proceedings, Mr. Brda advised us this action was vacated due to lack of proper notice.
Our 1Q 2019 estimates for EPS/CFPS/EBITDA of $(0.02)/$(0.01)/$0.3 million are essentially unchanged from our previous $(0.07)/$(0.01)/$0.4 million.
Page 2 of 8
IMO Lane Simonian is a self styled AD writer/historian who does a poor job of understanding the research that underpins the science that is powering Nuerotrope.
He has no scientific training and his bio and teaching career are in history/Latin American studies, and seems to be at the Community College level.
Maybe he is trying to make some $ writing for Seeking Alpha but overall he does a disservice with half baked research and an inclination to promote AVXL.
Of course, he is free to write whatever he wants but I would caution that the reader beware of his "erudition".
Do you have an opinion as to the science and research underlying Bryostatin as an AD treatment, or do you just see Neurotrope as an investment opportunity? Not that I would be critical if that were the case as I have make a lot of money on stocks that were trending up even if I knew little of the company.
In the case of Neurotrope through, I have dug deep into the company, met with the principles, attended an AD conference where Dr.Alkon was the featured presenter, and closely followed developments over the last three years.
If the confirmatory P2 trial is successful, and my expectation is that it will be, we will all be very rich if one were to still own the stock.
If the Phase 2 confirmation trial reads out as we expect it to I would think that Dr. Alkon’s efforts would deserve a Noble nomination. He will also be extremely wealthy as will anyone who owns even a small piece of this company.
Torchlight Provides Update on Its Orogrande Basin Project
Download PDF
PLANO, Texas, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Torchlight Energy Resources, Inc. (TRCH) ("Torchlight" or the "Company"), today announced that the Company and its operating partner Maverick Operating have completed the drilling phase of all three wells in the drilling plans set out in Q4. The Company was able to confirm several new potential Wolfcamp pay zones, in addition to the existing Penn Silt formation. Most importantly, the Company has confirmed a deep structure in the Atoka formation on the Maverick A24 #1 well.
A voluminous amount of scientific data has been gathered, including 11 different types of logs and over 100 sidewall cores from the three wells drilled. The scientific information is being analyzed and, when done, will help determine the best methods for completion. Petrophysical information gathered will measure the potential Oil In Place (OIP) and recoverable reserves for the Penn Silt pay zone and other conventional pay zones.
Through the assistance of newly hired industry professional Mike Zebrowski, the Company has uncovered newly processed 2D seismic, gravity information, and magnetics. This data will assist in establishing the extent of the structure identified in the Maverick A24 #1 well and additional conventional structures on the acreage. Mr. Zebrowski spent 43 years in industry, primarily with the Hess Corporation, directing Geological and Geophysical teams with an emphasis on unconventional projects before his retirement. The information Mr. Zebrowski is preparing for the Company will be the basis for its marketing presentation to potential suitors.
Once the entire scientific data suite is reviewed, the Company will host a conference call to go over the findings and how they benefit the Company and its shareholders. The call is slated for early March with a specific date to be announced a week prior to the call.
“This is an exciting time for our Company,” stated Greg McCabe, Chairman of the Board of Torchlight Energy. “The science is all coming together nicely, confirming what Rich Masterson has been stating all along. It is absolutely astonishing that Masterson selected the Maverick A24 #1 location, with very limited data, and discovered a structure with at least 500' of structural gain in the Atoka formation. The Atoka not only has excellent porosity, it also put oil on the pits during drilling. Torchlight has again confirmed evidence of a hydrocarbon system in the Orogrande Basin."
John Brda, Torchlight’s CEO, stated, "We have reached the time to take all we have learned and present it to larger E&P’s who will transition the Orogrande play from a science project into development. We look forward to announcing developments as they occur and would like to thank the team at Maverick Operating for a job well done.”
Investor Relations Contact
Derek Gradwell
MZ Group
SVP Natural Resources
PaPathstone Family Office LLC bought a new position in Neurotrope Inc
Posted by Gemma Cottrell on Nov 29th, 2018
(NASDAQ:NTRP) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 30,646 shares of the company’s stock, valued at approximately $270,000. Pathstone Family Office LLC owned about 0.39% of Neurotrope as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Cannell Peter B & Co. Inc. boosted its holdings in shares of Neurotrope by 3.7% during the third quarter. Cannell Peter B & Co. Inc. now owns 280,793 shares of the company’s stock worth $2,474,000 after purchasing an additional 10,000 shares during the period. Ingalls & Snyder LLC lifted its stake in Neurotrope by 38.9% in the third quarter.
Ingalls & Snyder LLC now owns 46,800 shares of the company’s stock valued at $412,000 after purchasing an additional 13,100 shares during the last quarter.
Tanaka Capital Management Inc. lifted its stake in Neurotrope by 12.1% in the second quarter. Tanaka Capital Management Inc. now owns 198,195 shares of the company’s stock valued at $1,919,000 after purchasing an additional 21,455 shares during the last quarter.
Finally, Renaissance Technologies LLC purchased a new stake in shares of Neurotrope during the second quarter worth $281,000. Hedge funds and other institutional investors own 17.66% of the company’s stock. thstone Family Office LLC Purchases New Holdings in Neurotrope Inc (NTRP)
https://www.fairfieldcurrent.com/2018/11/29/30646-shares-in-neurotrope-inc-ntrp-acquired-by-pathstone-family-office-llc.html
Torchlight Energy Confirms What Rich Masterson Always Knew, There's Gold In The Orogrande!
https://seekingalpha.com/article/4195499-torchlight-energy-confirms-rich-masterson-always-knew-gold-orogrande
Torchlight Illuminates a New Texas Oil Basin
Source: Bob Moriarty for Streetwise Reports 07/31/2018
Bob Moriarty of 321 Energy takes a look at what positive drill results in the Orogrande Basin in West Texas mean for the company.
Long patient shareholders of Torchlight Energy Resources Inc. (TRCH:NASDAQ) must have felt like it was a combination of Christmas and their birthday last week when the company finally announced positive drill results from a new and untested oil basin in far West Texas. In baseball terms the announcement would be called a home run out of the park with the bases loaded.
The Orogrande Basin project has been a work in progress since August of 2015. Back then the price of oil was collapsing to an eventual low of $26 a barrel in February of 2016. But the best deals are found at the bottom when even angels fear to tread and don't even think about investing. Torchlight Energy signed a deal with the University of Texas on the 172,000-acre Orogrande Basin in September of 2014.
The Orogrande Basin is the baby of oil expert Richard Masterson, discoverer on the Wolfbone shale play in the Delaware Basin in West Texas. After last week's results, he has a new trophy to plant on his mantelpiece with confirmation of the potential of the Orogrande Basin located in far West Texas.
It's been common knowledge for many years that the district has petroleum potential and a number of vertical wells have been drilled for test purposes. It took the brilliance of Rich Masterson and the good business sense of Torchlight to bring the potential of the field into the practical as experience grew in development of unconventional oil fields and the use of fracking in horizontal laterals.
Giant resource projects cause big problems because they eat money. It's not enough to have what might be as little as an interesting theory; you also have to have the money to develop it. Torchlight entered into an agreement with Founders Oil and Gas three years ago where Founders would invest up to $50 million into development of the basin. That agreement didn't work out the way the partners wanted so in November of last year, Torchlight announced reworking the deal.
It took financing and some time to get the project back on track and in January of 2018 Torchlight drilled the Founders A25 well in the Orogrande to a vertical total depth of 5,500 feet. At that point all Torchlight had accomplished was to drill a vertical well identical in nature to the half dozen or so test wells drilled over the years.
The real issue was going to be actual oil and gas production from a horizontal lateral and fracking. Torchlight isn't interested in production wells right now until they put together enough data about costs and flow to understand the nature of the beast they are riding. So the plan was to put in a short 1,000-foot horizontal lateral instead of the 10,000 to 20,000 foot laterals in major development wells. That leg was completed in February.
In the resource business, no news is almost always bad news. Companies announce exciting results coming "SOON" and when the actual results don't meet the company expectations they most often sit on the news in the futile hope that investors forget what has been promised. And I know from my emails that investors began to feel that waiting for an announcement of the results of the lateral leg were about as exciting as watching paint dry as time went by with no follow-up on results.
In defense of Torchlight, they probably had a pretty good idea of the results back in May. There was however the sticky situation of coming to a final agreement to the divorce between Torchlight and Founders. An agreement was made and last week the brilliant results were announced to the world and the long patient shareholders.
Initial production from the University Founders A25 #1 well produced a 1.8 MMCFPD flow based on hourly gas measurements. That would translate to about a 300 BOE when the well completes the liquid removal from the lower four stages which show significant oil potential. Currently the well is shut in pending delivery and installation of special gas lifting equipment that is expected to unload the wellbore and increase oil production recovery.
That rate of flow suggests that with a more normal 10,000-foot lateral in the same Pennsylvania formation will flow at a 3,000 BOEPD rate. A similar well with a 5,500 vertical and 10,000 foot horizontal will cost in the range of $8-$10 million. Using a metric of $40,000 per flowing BOEPD, a 3,000 BOEPD well would be worth $120 million in net present value. For certain that is a home run out of the park. If multiple wells are done at the same time the cost of drilling and completion will come down.
Considering only the Pennsylvania formation using 10,000-foot horizontal laterals Torchlight has 1,150 potential drill locations. But when you have one large zone, the odds favor more similar in nature zones that have the potential for hundreds to thousands of more drill locations.
Torchlight has rights to 72.5% of the field and the drill locations. In the Permian basin similar undeveloped unconventional drill locations are valued at between $1 and $2 million apiece. The Orogrande Basin compares favorably to the Permian Basin located 200 miles to the east with better than average permeability and porosity and higher reservoir pressure gradient. All of which is very good.
Rich Masterson deserves all the credit in the world for his discovery of a new exciting petroleum basin in West Texas. Torchlight is perfectly positioned to reap the rewards from a commanding land position in this new field discovery. I would be very surprised if Torchlight didn't enter into a joint venture with a much larger partner with deep pockets to monetize the field.
Torchlight is an advertiser. I have owned shares for over three years. Naturally I am biased. Do your own due diligence.
Torchlight Energy Resources
TRCH-NASDAQ $1.28 (Jul 30, 2018)
69.5 million shares
Torchlight Energy website.
Why Four Wall Street Experts Are Recommending This Oil Stock
Source: Streetwise Reports (7/31/18)
A small-cap oil and gas explorer is the first to pull significant hydrocarbons out of the Orogrande Basin in Texas, opening up a new field discovery.
New oil and gas field discoveries in the U.S. are rare, but a tiny oil and gas exploration company, Torchlight Energy Resources Inc. (TRCH:NASDAQ), has pulled it off in the Orogrande Basin in West Texas. On July 25, the company announced that it is producing "significant hydrocarbons" from University Founders A25 #1 well.
Torchlight noted that it has drilled a 1,000-foot, proof of concept lateral and "completed with a six-stage fracture stimulation in the Pennsylvania formation." The well has produced ~1.8 million cubic feet peak daily production rate based on hourly gas measurements. While the well has produced mostly gas to date, there have been limited quantities of 41 gravity oil.
The company expects increases of oil from this lateral based on logs and oil-saturated cores. "The upper most completion stages in the heel of the well show to be predominately gas by the core analysis, whereas the lower four stages show significant oil potential," the company reported.
"ROTH Capital Partners has a Buy rating and a $1.75 12-month target price on Torchlight."
Torchlight CEO John Brda stated, "The confirmation of production in the Orogrande Basin is major milestone for the company. To produce at a peak rate of ~1.8 MMCFPD out of a 1,000-foot lateral, with evidence of high quality oil behind it, confirms our thesis that the Orogrande can be a long lateral production play supporting 10,000-foot lateral wells."
"Torchlight is now the first company to effectively produce hydrocarbons in the Orogrande Basin and is attributed with this New Field Discovery," Brda noted.
The company intends to continue to test the first well, as well as drill two more project wells this year on the property, but is not looking to develop its 133,000 acre Orogrande holding itself. Brda noted that the company is in discussion with "industry majors who would be appropriate development partners or acquisition suitors for the Orogrande Project." Torchlight holds a 72.5% working interest in the project.
Rich Masterson, geological consultant on the project noted, "We have now validated a brand-new shale play in West Texas with potential across the basin to deliver large volumes of petroleum reserves from the Pennsylvania formation alone. Going forward we plan to validate deeper and shallower conventional zones, delineate the acreage to the south and verify pay zone properties including thickness, depth and quality of rock that appear in those sections."
Torchlight's accomplishments have caught the eye of resource investment experts.
John White, an analyst with ROTH Capital Partners, in a July 27 report, stated that the firm views "the hydrocarbon flow rates and results as very positive. Sustained gas production rates have ranged from 1.0 to 1.4 MMcf per day depending on choke size. This is confirmation of a petroleum system in the Orogrande Basin with a source rock necessary to produce hydrocarbons."
ROTH has a Buy rating and a $1.75 12-month target price on Torchlight, noting, "Our valuation is based on a net asset value (NAV) analysis which produced $1.73 per share which we adjusted higher to our $1.75 per share price target." The company's shares are currently trading at around $1.20.
Bob Moriarty of 321 Energy noted that based on initial production from the well of 1.8 MMCFPD, "that would translate to about a 300 BOE when the well completes the liquid removal from the lower four stages which show significant oil potential. Currently the well is shut in pending delivery and installation of special gas lifting equipment that is expected to unload the wellbore and increase oil production recovery."
"Torchlight is perfectly positioned to reap the rewards from a commanding land position in this new field discovery." - Bob Moriarty, 321 Energy
"That rate of flow suggests that with a more normal 10,000-foot lateral in the same Pennsylvania formation will flow at a 3,000 BOEPD rate. A similar well with a 5,500 vertical and 10,000 foot horizontal will cost in the range of $8-$10 million. Using a metric of $40,000 per flowing BOEPD, a 3,000 BOEPD well would be worth $120 million in net present value. For certain that is a home run out of the park. If multiple wells are done at the same time the cost of drilling and completion will come down," Moriarty calculated.
Moriarty notes the scale of Torchlight's Orogrande project. "Considering only the Pennsylvania formation using 10,000-foot horizontal laterals Torchlight has 1,150 potential drill locations. But when you have one large zone, the odds favor more similar in nature zones that have the potential for hundreds to thousands of more drill locations," he stated.
"Rich Masterson deserves all the credit in the world for his discovery of a new exciting petroleum basin in West Texas. Torchlight is perfectly positioned to reap the rewards from a commanding land position in this new field discovery. I would be very surprised if Torchlight didn't enter into a joint venture with a much larger partner with deep pockets to monetize the field," Moriarty concluded.
Keith Kohl, managing editor of Energy & Capital, an independent research service, writes, "Nestled away in the far western reaches in Texas, there's a small Texas oil stock that is unraveling one of the hottest new tight oil plays in the United States. Over the last year, Torchlight Energy has been quietly drilling into the massive Orogrande Basin."
"We're talking about a massive oil field with billions of barrels of crude up for grabs. Based on similar EURs in the Midland Basin, the potential EUR of Orogrande wells is estimated to be between 4 to 6 million barrels per section, with roughly 12–18 wells per section," Kohl stated.
He calls out that University Founders A25#1H well production "is a major milestone for a small E&P company like Torchlight. And it's even better news for shareholders, since it proves that there is, in fact, a petroleum system in the Orogrande Basin."
"Torchlight now has several options going forward. Confirmation of this petroleum system in the Orogrande Basin means that the company can now move forward with delineating the project itself, partner with a bigger player to develop the play, or even sell its acreage outright," Kohl noted.
On the technical analysis side, John Newell, portfolio manager with Fieldhouse Capital Management, charted Torchlight, noting, "There is a theory in Technical Analysis that states 'the bigger the base the bigger the move.' Those words could hold true for Torchlight. We see a long 3.5 year base, a 50 day moving average attempting cross a 200 day moving average that appears to be now moving up. A breakout above the 'Point of Recognition' appears to be $1.45 and establishes three targets set out in the chart. Also, a home run blue sky target of >$8.50 if the first three are met and exceeded."
Chart courtesy of StockCharts.com.
Read what other experts are saying about:
Energy Firm's Early Test Well Results 'Very Positive'
Research Report
In July 27 research report, John White, an analyst with ROTH Capital Partners, indicated that Torchlight Energy Resources Inc.'s (TRCH:NASDAQ) test well at the Orogrande project began to produce significant hydrocarbons. "We view the hydrocarbon flow rates and results as very positive," he added.
After being fracked in six stages, the 1,000-foot lateral University Founders A25 #1 well in the Pennsylvania Formation produced a peak of 1.8 million cubic feet (1.8 MMcf) daily, mostly gas but some "41-degree gravity oil," relayed White. Daily gas production ranged from 1–1.4 MMcf, varying with choke size. This confirmed that the Orogrande Basin hosts a petroleum system containing the source rock needed to produce hydrocarbons.
Based on available data, Torchlight management expects oil production at the test well to increase, for two reasons. The first is that core samples, for one, demonstrated "the Ro (a measurement of thermal maturity) is well within the oil window and this additionally indicates the likelihood of increased oil volumes," White explained.
The second reason is that oil flow in the well's lower four stages is presumably being obstructed by the gas liquids in the well's uppermost completed stages.
White highlighted that Torchlight has ordered and is awaiting delivery of equipment that should fix the problem, by unloading the wellbore, thereby facilitating oil flow and recovery. Until that time, production at the well has been suspended.
ROTH has a Buy rating and a $1.75 per share target price on Torchlight, whose stock is trading today at around $1.23 per share.
Excellent Seekingalpha article on Permian Basins:
https://seekingalpha.com/article/4084552-permian-basin-land-grab-turning-permania
My comment on article:
TORCHLIGHT ENERGY (TRCH) announces a "New Field Discovery" with its Orogrande Project. This is a newly discovered Permian Basin to the west of the Delaware and Midland basins with similar geology. The Orogrande basin was formed at the same time as the Delaware and Midland basins. Well known Permian Basin expert Geologist, Rich Masterson who originated the Wolfbone Play developed thesis for the Orogrande Basin. It is smaller than those two but it has significant potential:
Press Release: www.torchlightenergy.com/...
Overview and Maps:
www.torchlightenergy.com/...
Torchlight Energy has control of almost the entire basin.
From today's PR:
“While experiencing multiple obstacles, Torchlight and its partners did an excellent job of sticking with the program we originally outlined for this play to prove our thesis,” commented Rich Masterson, geological expert and Torchlight’s originating consultant on the Project. “We have now validated a brand-new shale play in West Texas with potential across the basin to deliver large volumes of petroleum reserves from the Pennsylvania formation alone. Going forward we plan to validate deeper and shallower conventional zones, delineate the acreage to the south and verify pay zone properties including thickness, depth and quality of rock that appear in those sections.”
From: Significant Cognitive Improvement with Bryostatin for Advanced Alzheimer’s Patients in the Absence of Memantine
"Results: In comparing 20 µg bryostatin with placebo for patients not taking memantine, the difference in SIB change from baseline was 6.1 points with 95% confidence interval of (1.5,10.7) and p = 0.012, suggesting 20 µg bryostatin was highly significantly better than placebo.
On the other hand, there was no treatment effect for memantine-dosed patients. Furthermore, with repeated measures of SIB over time for patients not taking memantine, the 20 µg bryostatin group showed early benefit starting at week 5 and the positive trend was sustained for the entire study follow-up. The results of these new analyses are consistent with, although clearer than, previous analyses that indicated persistence of bryostatin’s reversal of cognitive decline even 30 days after all dosing was completed."
The SIB baseline change of 6.1 points is highly significant and much better than Neurotrope and Dr. Alkon were expecting prior to the release of Phase II Top Line results (as Dr. Alkon told me in response to a question I asked of him).
From today's PR:
"Since February 2018, when I joined Neurotrope, I have reviewed a more extensive data set from the previous Phase 2 trial that gives me even more confidence that bryostatin had a positive effect on the patients in that study. I have also been receiving very positive feedback from key opinion leaders and I am very encouraged that this confirmatory Phase 2 study is initiating," said Dr. Charles S. Ryan, Chief Executive Officer of Neurotrope.
Really?? Why don't you check with Anthion Management, LLC. There investment is already up 20%.
That share offering was all sold to ONE investor. Roth is selling the Midland Basin asset for TRCH (bids due this month). TRCH plans to use the proceeds to develop the much larger Oro Grande basin.
New Roth Capital Coverage: $1.75 Price Target
John M. White, jwhite@roth.com
(949) 720-7115
Sales (800) 933-6830, Trading (800) 933-6820
COMPANY NOTE | EQUITY RESEARCH | June 18, 2018
Resources: Exploration & Production
For full report in pdf, please click here
Torchlight Energy Resources, Inc. | TRCH - $1.36 - NASDAQ | Buy
Initiation of Coverage
12-Mo.Price Target $1.75
Cash (mil)
$1.2
Tot. Debt (mil)
$15.3
TRCH: Initiating Coverage with a Buy Rating
Torchlight is undertaking a rank exploration effort in the Orogrande Basin, in far west Texas. While this effort poses significant exploration risk, it also offers very significant upside potential. Recent results from science wells mitigate, in part, this exploration risk. We are initiating coverage of TRCH with a Buy rating and a $1.75 price target.
The Orogrande Basin is very lightly drilled with no significant oil and gas production. Torchlight has drilled two science wells and has drilled and is attempting to complete a third well as a producer. Final completion results of this third well should be released in the near term.
While the Orogrande Basin exploration effort carries significant exploration risk, the potential upside is, in our view, very substantial. Torchlight holds an approximate 68% interest in 133,000 contiguous acres of oil and gas leases. This is an acreage position comparable to many, much larger E&P companies.
Torchlight advises that all previous wells in the Orogrande Basin were vertical, conventional wells and Torchlight believes employing horizontal drilling and modern frack technology will yield significantly improved results. Also, none of the previous wells in this basin were drilled into the Pennsylvanian formation. Torchlight is targeting the Pennsylvanian formation, based on positive results from science wells drilled to date. Finally, Torchlight believes one of the key aspects of the potential of the Orogrande Basin is that the Orogrande Basin was formed during the same geologic time as the Delaware Basin and the Midland Basin. A comparison of geoscience metrics is contained herein.
Torchlight is also pursuing the development and potential divestiture of the Hazel Project in the Midland Basin, and the development of the Winkler Project in the Delaware Basin. At the Hazel Project, results from drilling activity have confirmed potential in the Lower Wolfcamp A and Upper Wolfcamp B as well as the Upper Wolfcamp A, the Dean formation and the Leonard formation. The acreage block is set up for 10,000 foot lateral wellbores. If divested, the proceeds would be used to further the effort in the Orogrande Basin.
The leadership team is, in our view, strongly aligned with shareholders with 27% of the common stock owned by directors and officers. Torchlight's Chairman of the Board of Directors is Mr. Gregory McCabe. Mr. McCabe's commitment to Torchlight is, in our opinion, impressive, with his current ownership, either individually or through his affiliates, equal to approximately 23% of the common stock of Torchlight.
Important Disclosures & Regulation AC Certification(s) are located on the last page of this report.
SUMMARY
VALUATION
Our valuation is based on a net asset value (NAV) analysis which produced $1.73 per share which we adjusted higher to our $1.75 per share price target.
Factors that may impede shares from reaching our price target include a significant decrease in oil and natural gas prices, difficulties encountered in the drilling and completion program, any changes enacted by federal, state or local governments that materially affect the profitability of oil and gas production and changes in the key management executives.
RISKS
Oil and natural gas prices: A significant decrease in oil and natural gas prices to levels below our current forecast would cause actual financial results to be lower than our forecasts for this company. Furthermore, a significant decrease in oil and gas prices could have a negative impact on investor sentiment and could be negative for the performance of U.S. exploration and production equities.
Operational risks: These include, but are not limited to, difficulties encountered in the drilling and completion program including dry holes, cost overruns, or timing problems and or shortages of oil and gas service equipment and supplies. Tax and regulatory changes: Any changes enacted by federal, state or local governments that materially affect the profitability of oil and gas production could negatively affect U.S. exploration and production equities, such as changes in royalty rates, government taxes on oil and natural gas production, environmental regulations and corporate income taxes.
Petroleum reserve risk: Estimates of economically recoverable oil and natural gas reserves and of future net revenues are based upon a number of variable factors and assumptions, all of which to some degree may vary considerably from actual results. Therefore, actual production, revenues, development and operating expenditures may not occur as estimated. The reserve data are estimates only, are subject to many uncertainties and are based on data gained from production histories and on assumptions as to geologic formations and other matters. Actual quantities of oil and natural gas may differ materially from the amounts estimated.
Concentration and Control Risk: Mr. Gregory McCabe holds the position of Chairman of the Board of Directors and beneficially owns, either individually or through his affiliates, approximately 23% of the common stock of Torchlight. Mr. McCabe has also loaned Torchlight $3.25 million in connection with an oil and gas property acquisition. As a result, Mr. McCabe has significant influence in matters voted on by the shareholders and the board of directors, including the election of the board members, and in all other facets of the business, including business strategy and daily operations.
Going Concern Comment from Auditor: The letter from Torchlight’s public accounting firm, which addresses the audit of the 12/31/2017 financial statements, states that “the accompanying consolidated financial statements have been prepared assuming that the company will continue as a going concern." As discussed in Note 2 to the consolidated financial statements, the company has incurred recurring losses from its operations and has a net capital deficiency which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. Source: Torchlight SEC filings
COMPANY DESCRIPTION
Torchlight Energy Resources, Inc. is an exploration and production company, engaged in the acquisition, exploration, and development of oil and natural gas properties in the U.S. Torchlight operates through Torchlight and four other wholly owned subsidiaries, Torchlight Energy Operating, LLC, Hudspeth Oil Corporation, Torchlight Hazel LLC, and Warwink Properties LLC.
Torchlight principal interests are in three oil and gas projects. Torchlight’s is primarily pursuing the development of its large acreage position in the Orogrande Basin, the development and potential divestiture of the Hazel Project in the Midland Basin, and the development of the Winkler Project in the Delaware Basin.
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures:
Within the last twelve months, ROTH has received compensation for investment banking services from Torchlight Energy Resources, Inc., Earthstone Energy, Inc., Halcón Resources Corporation and Ring Energy, Inc..
ROTH makes a market in shares of Torchlight Energy Resources, Inc., Callon Petroleum Company, Earthstone Energy, Inc., Diamondback Energy, Inc., Halcón Resources Corporation, Ring Energy, Inc. and RSP Permian, Inc. and as such, buys and sells from customers on a principal basis.
A Research Analyst and/or a member of the Analyst's household own(s) debt or equity securities of Torchlight Energy Resources, Inc. stock.
Shares of Torchlight Energy Resources, Inc. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
Within the last twelve months, ROTH has managed or co-managed a public offering for Torchlight Energy Resources, Inc., Earthstone Energy, Inc., Halcón Resources Corporation and Ring Energy, Inc..
Each box on the Rating and Price Target History chart above represents a date on which an analyst made a change to a rating or price target, except for the first box, which may only represent the first note written during the past three years. Distribution Ratings/IB Services shows the number of companies in each rating category from which Roth or an affiliate received compensation for investment banking services in the past 12 month.
Distribution of IB Services Firmwide
IB Serv./Past 12 Mos.
as of 06/17/18
Rating
Count
Percent
Count
Percent
Buy [B]
254
70.56
135
53.15
Neutral [N]
51
14.17
23
45.10
Sell [S]
8
2.22
4
50.00
Under Review [UR]
46
12.78
24
52.17
Our rating system attempts to incorporate industry, company and/or overall market risk and volatility. Consequently, at any given point in time, our investment rating on a stock and its implied price movement may not correspond to the stated 12-month price target.
Ratings System Definitions - ROTH employs a rating system based on the following:
Buy: A rating, which at the time it is instituted and or reiterated, that indicates an expectation of a total return of at least 10% over the next 12 months.
Neutral: A rating, which at the time it is instituted and or reiterated, that indicates an expectation of a total return between negative 10% and 10% over the next 12 months.
Sell: A rating, which at the time it is instituted and or reiterated, that indicates an expectation that the price will depreciate by more than 10% over the next 12 months.
Under Review [UR]: A rating, which at the time it is instituted and or reiterated, indicates the temporary removal of the prior rating, price target and estimates for the security. Prior rating, price target and estimates should no longer be relied upon for UR-rated securities.
Not Covered [NC]: ROTH does not publish research or have an opinion about this security.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2018. Member: FINRA/SIPC.
Please access the attached hyperlink for an important electronic communications disclaimer:
http://www.roth.com/main/Page.aspx?PageID=1070
This was posted tonight on StockTwits by Merica.
It shows that TRCH's University Founders A25 1H well is producing. Maverick is the operator. It would seem to indicate that the Flow Test has not been completed. LINK to Texas University Lands document: utlands.utsystem.edu/API/4222930276
Lease #1151230 - 99,999Lease #1151220 - 99,999
RRC Lease:NAName: UNIVERSITY FOUNDERS "A25" #1Effective: 4/26/2017
Field: WILDCAT (08) (18001)
Operator: MAVERICK OPERATING, LLC (0000534209)
Status: Producing w/o Regulatory 5/10/2018
Permit: 825168 (Current Reporting Number)
Spud: 11/28/2017 Complete: NA
UL Lease: 115123(Held by Unit)
BHL: 875 FSL 595 FWL Sec:24 in UL Lease:115122
Measured Depth: 6691
Perf Leases: 115123
Depths - Total Vertical Depth: 5436 Depths - TVD: 5436
Date Perf Top Perf Bottom
5/10/2018 5491 6640