Torquay Announces Option Grant

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES,
TO UNITED STATES NEWS WIRE SERVICES OR TO UNITED STATES PERSONS 


Torquay Oil Corp. (TSX VENTURE:TOC.A) (TSX VENTURE:TOC.B) ("Torquay" or the
"Company"), Torquay announced today that it has granted an aggregate of
1,422,100 stock options to directors, officers, employees and consultants of the
Corporation, of which 766,100 stock options were granted to directors and
officers, in accordance with Torquay's incentive stock option plan. All of the
options are exercisable at $1.44 per share, vest in equal tranches of one-third
on each of the first, second and third anniversaries of the date of grant and
expire after five years. 


Torquay is a uniquely positioned, oil focused, junior exploration company formed
to generate and develop its own prospects, acquire oil weighted properties and
participate with joint venture partners in oil exploration and development in
the Western Canadian Sedimentary Basin. The Company's Class A Shares and Class B
Shares trade on the TSX Venture Exchange under the symbols TOC.A and TOC.B. The
Company currently has 48,626,582 Class A Shares and 1,260,000 Class B Shares
outstanding.