TORCHLIGHT ENERGY Letter Agreement

TORCHLIGHT ENERGY

Letter Agreement

Date:           Mar. 30, 2015

To:           Xxxx XxXxxx

From:           Xxxx Xxxx, CEO Torchlight Energy

Re:           Option to Extend

Dear Xxxx:

Let this letter serve as our understanding on the extension you granted us for the Orogrande drilling program on the Rich A-1 well.  We have agreed to give you an option purchase 631,250 shares for a total purchase price of $225,000, in exchange for the ten day extension.

The option must be exercised no later than 30 days after receipt of the logs associated with the Rich A-1 well.

By signing below, you acknowledge that this is your understanding as well, and you agree to be bound by the terms herein.

/s/ XXXX XXXXXX                                                      

Xxxx XxXxxx

/s/ XXXX XXXX                                           

Xxxx Xxxx, CEO

Torchlight Energy

TORCHLIGHT ENERGY, INC., 0000 Xxxxx Xxxxxxx, Xxxxx 0000 Xxxxx, Xxxxx 00000 ê 000-000-0000  000-000-0000 efax

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