LONDON, ONTARIO — (Marketwire) — 07/22/11 — 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.
Contacts:
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)