Torque Energy Inc.

Torque Energy Inc.

July 22, 2011 15:28 ET

Torque Announces Closing of Ontario Asset Purchases

LONDON, ONTARIO--(Marketwire - July 22, 2011) - Torque Energy Inc. (TSX VENTURE:TQE) is pleased to announce that it has completed the purchase of substantially all of the Ontario oil and gas assets of two United States based companies – Midway Petroleum Company of Clarkston, Michigan and the True Family of Casper, Wyoming. The Midway assets provide Torque with a portfolio of natural gas storage leases, 600 kilometres of seismic data, geological prospects and C$1.3 million of tax pools. In purchasing the True assets, Torque now owns a 100% working interest in the Corey East Pool and the Warwick oil well. The purchase price for both acquisitions totalled C$677,931.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Torque Energy Inc.
    Brian E. Bayley
    President and CEO
    604.681.4692 (FAX)

    Torque Energy Inc.
    David C. Nelms
    Chief Financial Officer
    519.433.7588 (FAX)