Torchlight Energy Announces Board Member Changes
February 08 2019 - 7:30AM
Torchlight Energy Resources, Inc. (TRCH)
("Torchlight"
or the "Company") today announced
the addition of an independent member to its Board of Directors,
Mr. Robert Lance Cook. Additionally, Mr. R. David Newton will be
stepping down from his position on Torchlight’s Board for personal
reasons. With this change Torchlight will have five directors
including three independent members.
Mr. Robert Lance Cook has more than 40 years of experience in
the oil and gas industry where he held senior positions with Shell
Oil as a Wells Engineer. Mr. Cook retired from Shell in 2016 after
36 years of service. He most recently held position as Chief
Scientist for Wells and Production Technology. Cook helped conceive
and develop the Sirius Well Manufacturing System (SWMS) JV; a Joint
Venture company between Shell and China National Petroleum Company
that builds specialized oilfield equipment for large scale
development programs such as a 500 well Canadian development where
well costs were halved compared to their previous conventional
costs. Cook’s role as Chief Scientist at Shell involved advising
the Senior Executives on technical issues and working with leading
internal and external scientists to help Shell stay at the
forefront of energy technology innovation. A brief highlight video
about Mr. Cook may be viewed on Shell’s website linked here. During
his career Mr. Cook has also been credited with over 100 oil and
gas industry inventions which may be reviewed under the patents
list for those applications linked here.
“We would like to welcome to Mr. Cook to the Board of Directors
of Torchlight,” stated John Brda, CEO of the Company. “His
level of expertise is unparalleled in the oil and gas industry and
it has been a pleasure to work with him as a consulting service
provider on our Orogrande Project. His intimate familiarity
with our undertaking coupled with his vast experience will be
profoundly impactful to the development of our assets and the
process now underway to identify the best suitors or partners for
our projects.”
“We also wish to extend our heartfelt thanks to David Newton for
his years of service to Torchlight and our shareholders. His
insight has been impactful to every significant decision we have
made, and it has been a pleasure to get to know and work with him.
Our gratitude goes with Dave as he shifts his focuses, his
input to us will be greatly missed.”
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
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