Torquay Announces Proposed Private Placement

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")


In connection with the appointment of Phil Besler as Vice President, Operations,
the Company intends to complete a non-brokered private placement (the "Private
Placement") of 100,000 Class A Shares to Mr. Besler at a price of $0.27 per
share for gross proceeds of $27,000. The proceeds will be used for general
corporate purposes. Closing of the Private Placement is subject to the approval
of the TSX Venture Exchange. 


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 48,109,448 Class A Shares and 1,260,000 Class B Shares
outstanding.


Advisory

Certain information in this news release, including the expected use of proceeds
from the Private Placement may constitute forward-looking statements under
applicable securities laws and necessarily involve substantial known and unknown
risks and uncertainties. The forward-looking statements contained in this
document are made as at the date of this news release and Torquay does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.