SOURCE: Toro Ventures, Inc.

June 09, 2008 16:00 ET

Toro Ventures, Inc. Has Commenced Open Hole Testing on the First Wilcox Sand Formation; Results on Initial Flow Rates Expected Within the Week

SEATTLE, WA--(Marketwire - June 9, 2008) - Toro Ventures, Inc. (OTCBB: TORO) has announced that the Quinlan #3 well was logged and passed through numerous formations which included the Misener Sandstone, Hunton Limestone, Viola Limestone and the Simpson Dolomite.

The geologist is evaluating all the log information on the well and the operator of the Quinlan #3 Lease has elected to set pipe. We will be open hole completing the First Wilcox sand in the Quinlan #3 Lease. We expect initial flow rates shortly thereafter.

The Quinlan 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 USD.

Logged results show that the Hunton Limestone formation was by far the best showing zone, as evidenced by the zone's sample fluorescence and heavy oil odor. The Hunton Limestone formation begins from 4,610 feet to 4,628 feet, translating to 18 feet of pay.

The subsequent zone of interest is the Viola Limestone formation. The Viola Limestone formation begins from 4,724 feet to 4,772 feet, translating to 48 feet of pay.

Frederick Graham, President & CEO of Toro Ventures, Inc., comments, "We are very pleased with the findings on the Quinlan #3 lease. The results from Quinlan demonstrate our ability to continue strengthening our oil & gas portfolio by acquiring value adding properties. We expect to be announcing our first production numbers within the next 30 days. The Company will be keeping shareholders advised of all completion results of the Quinlan #3."

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
    1-206-686-1757
    www.toroventuresinc.com