Torque Announces Closing of Ontario Asset Purchases

22.07.2011  |  Marketwired

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

Torque Energy Inc.
Brian E. Bayley, President and CEO
604.689.1428
604.681.4692 (FAX)

Torque Energy Inc.
David C. Nelms, Chief Financial Officer
519.433.7710
519.433.7588 (FAX)