Torque Shareholders Approve Amalgamation With Dundee Energy Subsidiary

Torque Energy Inc. (TSX VENTURE:TQE) advises that at its annual and special
shareholder meeting held today, its shareholders approved the amalgamation of
Torque with a subsidiary of Dundee Energy Limited (formerly called Eurogas
Corporation) whereby Torque will become a wholly-owned subsidiary of Dundee
Energy. The amalgamation was approved by over 94.0% of the votes cast by all
shareholders and by over 86.6% of the votes cast excluding persons and companies
affiliated with Dundee Energy.


Shareholders of Torque were able to elect before 4:30 p.m. (Toronto time) on
July 27, 2011 to receive on the amalgamation either C$0.50 for each Torque share
held or one common share in Dundee Energy for every two Torque shares held. If
no election was made, shareholders will receive C$0.50 per share.


It is expected that Torque's shares will halted until the amalgamation is
completed in early August, at which time the shares will be delisted from the
TSX Venture Exchange and shareholders will be sent the cash or share
consideration which they elected to receive for their Torque shares.


About Torque Energy Inc.

Torque Energy Inc. is listed on the TSX Venture Exchange under the symbol "TQE"
and is engaged in oil and gas operations in Ontario and Alberta. For more
information, visit www.torqueenergy.com.


About Dundee Energy Limited

Dundee Energy Limited is listed on the Toronto Stock Exchange under the symbol
"DEN" and is engaged in oil and natural gas operations in Ontario and indirectly
in the development of a major underground storage facility off the east coast of
Spain. For more information, visit www.eurogascorp.com.