Meta Materials Inc (MMAT)

[SF Wolf]

Torchlight Energy Successfully Delivers Stimulation on First Horizontal Well in the Orogrande Project

PLANO, TX -- (Marketwired) -- 04/30/18 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that stimulation of the Penn formation has been successfully completed on the University Founders A25 #1H horizontal well in the Orogrande Project. A total of six stages were fracture stimulated using 1.6MM pounds of sand at 60 bpm. Average stage breakdown pressure was 4,500 psi. The stage plugs have now been drilled and the flow testing phase has begun.

"We are very pleased that all six stages of the stimulation were delivered according to plan," stated John Brda, CEO of Torchlight Energy. "The well treated as expected and the entire proppant package of each stage was placed as designed. Matrix fracture stimulation was accomplished, and we believe this to be a first in the Orogrande Basin. Flow-back, testing and evaluation of the ~1000' lateral interval in the Pennsylvanian formation has begun. It certainly is exciting to be at this point in the project and we look forward to updating our shareholders in the coming weeks, as we know more information. Based on all technical data we have acquired through the drilling and completion phase of the project our expectations are high we will see oil production, but only after at least some load recovery. Having Maverick Operating on location to supervise the stimulation process delivered by CUDD Energy Services went very smoothly. Both did an excellent job."