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TQE Torque Energy Com

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Share Name Share Symbol Market Type
Torque Energy Com TSXV:TQE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Torque Reports First Quarter Financial Results

29/04/2009 6:49pm

Marketwired Canada


Torque Energy Inc. (TSX VENTURE:TQE) today filed with Canadian securities
authorities its unaudited consolidated financial statements and related
Management's Discussion and Analysis for the three month period ended February
28, 2009.


The Company realized a loss of $51,133 ($0.00 per share) for the period ended
February 28, 2009 compared to a profit of $294,284 ($0.02 per share) for the
same period in the previous financial year. Oil and gas revenues less royalties
decreased to $528,396 in Q1 2009 versus $826,595 in the previous year.
Production sales of petroleum and natural gas in the first quarter of 2009
averaged 161 BOE/day and realized an average gross price of $42.20/BOE. This
compares to 135 BOE/day in Q1 2008 with an average price of $77.52/BOE, a
decrease of 46%.


General and administrative costs increased to $177,174 in 2009 from $173,018
over the same period the previous year.


Copies of the filed documents may be accessed electronically through the SEDAR
website at www.sedar.com.


BOE's may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


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