Torchlight Energy Resources, Inc. has entered into an agreement to acquire 25% working interest in a new area of mutual interest (AMI) covering approximately 92,000 acres with Husky Ventures and two other private entities. This transaction increases Torchlight Energy's acreage in the Hunton to approximately 13,400 gross acres.
Will McAndrews, COO of Torchlight Energy, explained, "We are very excited about expanding our relationship with Husky Ventures and look forward to participating at a higher working interest in this play alongside of an experienced operator. The Husky Ventures team has demonstrated a unique ability to uncover and develop tremendous plays. These properties provide excellent opportunities for us to increase our production and cash flows in a capital efficient, low-risk manner."