thanks Steve -- had a small piece left to track it and took a position earlier when you posted.  Nice move since then.

While I certainly hope that the price of oil increases in the near future, I personally believe that TRCH will trade independent of the movement in the price of oil until the results of the recently drilled Hazel well become known. Also, TRCH is scheduled to start drilling their first horizontal well on the Orogrande Lease in Hudspeth County, Texas. As I am sure most of you know, the Orogrande Lease comprises 133,000 acres and TRCH has a 47.5% ownership in the working interest. If the Orogrande well proves to be commercially viable and the value of the acreage goes up to only $ 1,500 per acre, then based on TRCH's 47.5% working interest ownership and 60 million outstanding shares, the value of TRCH's interest in the Orogrande acreage would theoretically increase the value of the stock by another $ 1.58 per share.

Assuming the wells on the Hazel Lease and the Orogrande Lease prove to be commercially viable, and assuming that my numbers are anywhere near close for the value of the raw acreage, one can see how adding $ 1.60 in value for the acreage on the Hazel Lease and $ 1.58 in value for the acreage on the Orogrande Lease to TRCH's current stock price of $ 1.65 could result in the price of TRCH stock reaching the $ 4.75 - $ 5.00 per share in the very near future. Plus, keep in mind that these numbers do not include any estimated value for the oil and gas reserves that can be produced in the future. If we get lucky, and the two wells prove to be commercially viable, I think that TRCH could become a potential take-over target, resulting in the price of the stock going even higher. We just need the two wells to come in strong. Keep your fingers crossed!

I will be more than happy to sell my shares to any potential suitor if the price is right. The Hazel Lease alone is estimated to have approximately 4 million recoverable EURs per section (640 acres). The Hazel Lease has 18.75 equivalent sections of acreage. If the recoverable EUR estimates would ultimately prove to be anywhere near correct, then based on TRCH's 80% ownership in the working interest (100% of the working interest is equal to a 75% net revenue interest), an estimated oil price of $ 45.00 per barrel (net of severance taxes), estimated operating expenses of $ 15 per barrel and an estimated capex cost of $ 600,000,000 to drill 150 wells (8 wells per section at $ 4,000,000 per well), TRCH's non-discounted value in the Hazel Lease could approximate $ 645,000,000, or $ 10.00 per share. Keep in mind that the $ 10.00 value does not include any value being assigned to the Orogrande Lease!

If the Orogrande Lease proves to be commercially viable, then the value of TRCH's stock should only increase even more. Each investor (or potential investor) should do his/her own due diligence research before deciding to buy, hold or sell TRCH. I also sincerely respect anyone that has an opinion that is contrary to mine. Have a great evening.

SELL the RIPS