Torchlight Energy Resources, Inc. says that the drilling contract for the Johnson #4 Re-Entry has been approved and the Company is expecting the drilling rig to be on location during the first week of December.

Additionally, Torchlight has entered into an agreement for Goldstone Energy GP, LLC to participate in the project for 10% working interest. The 10% interest will be assigned by Torchlight from a 25% interest that was previously earmarked for industry partners. Torchlight will retain a 50% working interest in this well.

Tags: Torchlight Energy Resources