SOURCE: Torrent Energy Corporation

December 14, 2007 08:00 ET

Torrent Energy Reports Progress on Financing Efforts and Joint Venture Discussions

PORTLAND, OR--(Marketwire - December 14, 2007) - Torrent Energy Corporation (the "Company") (OTCBB: TREN) today announced that it is making progress on its efforts to establish additional sources of capital for the advancement of its Coos Bay coal-bed methane project. Management said the Company also is in detailed discussions with a prospective joint venture partner that has expressed interest in participating on the project.

John Carlson, president and CEO, said, "While the establishment of a new financing package is taking longer than anticipated, we are making meaningful progress and are optimistic that our efforts to finalize a transaction will be successful. We obviously are working to negotiate a transaction that is in the best interest of Torrent and its shareholders. While we cannot provide a definitive timetable for the completion of a funding arrangement, we will announce the results of these efforts as soon as possible."

About Torrent Energy Corporation

Torrent Energy Corporation is an exploration company focusing on developing non-conventional natural gas reserves in the Northwestern United States. The Company's primary objective is to create value for stakeholders by applying strong technical expertise to projects. The current focus of the Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of the Coos Bay Basin project in southwestern Oregon where the Company currently has a land portfolio that includes over 118,000 acres of prospective land. For more information please visit

Safe Harbor Statement:

This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to that we are optimistic that our efforts to finalize a financing transaction will be successful. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, potential delays or obstacles in drilling and/or interpreting data, market fluctuations and spot prices for gas, and the possibility that no commercial quantities of gas are found or recoverable. For more risk factors about our Company, readers should refer to risk disclosure in our most recent 10-K and Form 10-Q filed on Edgar.

Contact Information

  • For further information please contact:
    Investor Relations in the U.S.
    Pfeiffer High Investor Relations, Inc.
    Geoff High
    Phone: 303-393-7044
    Email: Email Contact

    Torrent Energy Corp.
    John Carlson
    President & CEO
    Phone: 503-224-0072
    Email: Email Contact

    Investor Relations in Canada
    CHF Investor Relations
    Cathy Hume
    Phone: 416-868-1079 ext. 231
    Email: Email Contact