Torque Announces Closing of Ontario Asset Purchases

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.