SOURCE: Toro Ventures, Inc.

June 23, 2008 16:00 ET

Toro Ventures, Inc. Announces Success on Quinlan #3 Well

SEATTLE, WA--(Marketwire - June 23, 2008) - Toro Ventures, Inc. (OTCBB: TORO) is proud to announce that, as of 3:45PM Central Time on June 18th, the Quinlan #3 well officially went on line. Nitro Petroleum Inc., the operators of the Quinlan #3 well, successfully completed the well in the Hunton Limestone on June 12, 2008. Production figures will be publicly announced once the well has had the fracture water pumped out and the recovery of oil and gas production reaches sustainable rates.

The Quinlan #3 well has encountered three productive pay zones, the Viola, Limestone and the Simpson Dolomite. The Quinlan #3 Lease is located in the Hunton Limestone formation and this is considered to be one of the best producing formations in Oklahoma. The region has produced in excess of 5.8 million barrels of Oil to date, with value of over $626 Million US.

Frederick Graham, President & CEO of Toro Ventures, Inc., comments, "TORO and Nitro have met recent severe weather conditions headon staying on schedule with our projected timeline and brought the Quinlan well online. We expect to be announcing our first production numbers within the next 30 days. The Company will be keeping shareholders advised of all production results from the Quinlan #3 well."

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 will be made available on Toro's corporate website, www.toroventuresinc.com.

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
    1-206-922-2001

    CEO and President
    Frederick Graham
    1-206-273-7850
    www.toroventuresinc.com