Torrential Energy Ltd.
TSX VENTURE : TNL

Torrential Energy Ltd.

September 24, 2009 17:35 ET

Torrential Energy Ltd. Announces Agreement With Industry Partner

CALGARY, ALBERTA--(Marketwire - Sept. 24, 2009) - Torrential Energy Ltd. ("Torrential") (TSX VENTURE:TNL) announces that it has signed a Seismic Option Agreement with an industry partner. The agreement provides that the partner will shoot a 2 square mile 3D seismic program, by no later than November 15, 2009, over Torrential's Long Coulee prospect. Upon conducting the seismic program the partner shall have the right until May 14, 2010 to elect to drill a well or terminate its right to conduct any further operations on the prospect. The Agreement contains standard industry operating and royalty terms. Torrential will have the right to convert its royalty interest, on the drilled spacing unit, to a working interest at payout if the partner elects to drill. Torrential shall have a reduced working interest in the balance of the lands and be entitled to participate for its share in the event further wells are drilled.

About Torrential

Torrential is an emerging Calgary-based oil and natural gas exploration and development company. Torrential's common shares trade on the TSX Venture Exchange under the symbol TNL.

For further information, please go to Torrential's website at www.torrentialenergy.com.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with obtaining applicable regulatory approvals, including the approval of the TSX Venture Exchange. Readers are cautioned that the foregoing list of factors is not exhaustive.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and Torrential does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contact Information

  • Torrential Energy Ltd.
    Tim T. Galbreath
    President and Chief Executive Officer
    (403) 560-4585
    (403) 384-0002 (FAX)
    tgland@telusplanet.net
    or
    Torrential Energy Ltd.
    Craig Albert
    Vice President, Finance and Chief Financial Officer
    (403) 384-0000
    (403) 384-0002 (FAX)
    www.torrentialenergy.com