Meta Materials Inc (MMATQ)

[SF Wolf]

In the next few weeks or so TRCH should release results from their first wildcat/production well in the Orogrande Basin. If this well is successful it will herald the discovery of a vast new oil field in West Texas with similar geology to the fabulously rich Midland Basin.

What results are we looking for? This well has only a 1000 ft. lateral frack. Most recent wells in the Midland are five to ten thousand lateral feet. TRCH kept this well small to reduce potential drilling/production complications. In my opinion 75 barrels plus per day would signify a major success.

FROM TRCH WEBSITE:
Torchlight owns 67.75% working interest in full ~133,000 net acre unit
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
Single Drilling and Development Unit Agreement on University Lands holds entire 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
Recent horizontal well results provide scientific data confirming system is slightly over-pressured (.64 pressure gradient compared to normally pressured Midland Basin assets)
Well known Permian Basin expert Geologist, Rich Masterson originated the Wolfbone Play and developed thesis for the Orogrande Basin (WolfPenn)