Torchlight Energy (TRCH) has 168,000 acres in the Orogrande Basin west of El Paso. The land has a geologic pattern just like the Permian Basin and they are expecting to find a great deal of oil. A partner (a subsidiary of DH Horton) has given them $50 million to be a 50% partner. Price is a steal right now at $1,.25

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Cost Depletion: A Valuable Tax Deduction for Royalty Owners

Posted by Patrick Flueckiger on February 12, 2018 at 10:30am 0 Comments

 The Internal Revenue Code allows a deduction known as “depletion” for oil & gas income. The depletion deduction could save a taxpayer thousands of dollars in income taxes. Since a mineral interest runs out…



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