SOURCE: Toro Ventures, Inc.

May 15, 2008 16:18 ET

Toro Ventures Goes Into Full Oil and Gas Production on the Crown Lease

SEATTLE, WA--(Marketwire - May 15, 2008) - Toro Ventures, Inc. (OTCBB: TORO) has been informed by Nitro Petro, the operator of the Crown Lease, that all wells on the Crown Lease have been electrified and the Lease will be in production as of today's date. The operator will update Toro as soon as possible on initial production numbers.

Frederick Graham, President and CEO of Toro, stated, "This is exactly what Toro was working towards. The proven reserves on the Crown Lease substantiate the significant shareholder value that the property added to the Company's overall portfolio. Toro will move quickly towards replicating the same progress on the Quilan #3 prospect and initiating a work program on the Crown #2 Oil Well in order to continue aggressively taking advantage of market prices for oil and gas and building value in Toro's oil and gas portfolio. We are excited at the speed of our progress and expect more positive news to come from our new projects."

Toro Ventures will also be offering updates to shareholders on the progress on the larger Quilan #3 lease in the near future. Setup work for drilling has been completed and the drilling rig will be onsite late this week, with drilling set to commence next week.

Toro Ventures, Inc. has moved aggressively into the Oil and Natural Gas exploration business. Oil and Gas prices are at high levels due to increased world energy demands and supply shortfalls. These higher prices should enable smaller and faster moving companies like Toro Ventures to be aggressive in acquiring further opportunities within the Sector.

More information on the Crown Leases will be made available on Toro's New Corporate Website

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.

Contact Information

  • Contacts:
    Toro Ventures, Inc.
    Investor Relations
    CEO and President
    Frederick Graham