Torque Announces Closing of Ontario Asset Purchases
22 Juli 2011 - 9:28PM
Marketwired
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)
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