Torque Energy Inc. is a Canadian based oil and natural gas company focusing on exploration, development and acquisition of opportunities related to the operation and production of oil and natural gas properties. The Company presently conducts its activities in the provinces of Ontario and Alberta. The common shares of Torque Energy Inc. trade on the TSX Venture Exchange under the symbol "TQE". Currently the company has 13,837,698 common shares issued and outstanding. To review this information click here.

The Company is pursuing a number of exploration and development opportunities in Ontario. Discussions are underway to consider the possibility of future business ventures and acquisitions.

Management continues to evaluate the Company’s asset base of producing and exploration properties in its mandate to improve shareholder value with minimal increase in debt or incurring excessive shareholder dilution.

As a result of this asset review, Management has initiated an assessment to determine their viability to function as commercial gas storage reservoirs.  The Company has acquired 400 acres of petroleum and natural gas storage rights at 100% working interest adjacent to one of its current producing properties.  The Company reprocessed and interpreted nine lines of in-house seismic with encouraging results.  To further delineate the reefal structure, a program has been designed to shoot, process and interpret two additional lines of seismic before the end of November.

In February 2009, the Warwick 6-17-IV well (50% working interest - net 3 BOE/day) developed a production casing leak and a bridge plug was set to shut off the flow of water into the reservoir. Partner agreement to remedy this leak was received on July 6th. The operation began September 21st. Current production is 21 bbl/d of fluid with an oil cut (the percentage of crude oil in one barrel of production fluid) of 25% or 5.25 bbl/d and improving steadily.

Economic and pressure evaluations at Ram #91 and Reefex #1 continue to be performed, (both shut-in gas wells).  In late August, a wire line test at Ram #91 showed that the wellbore was filled with natural gas and reservoir fluid indicating a reservoir with additional recoverable gas reserves nearby.  The Company is encouraged and will perform a production test of the well to measure the open flow potential for natural gas.  This test should be completed by mid-November, at which time the equipment will be moved to perform the same tests at Reefex #1.

The Company has acquired 3,002 acres of petroleum and natural gas rights at 100% working interest in the Dunwich-Southwold prospect area. This prospect and an additional seven prospects also located in southwestern Ontario were originally identified using high resolution magnetics. The Company has completed the SGH (soil gas hydration) sampling survey and is currently integrating these results into the geological/geophysical models to form a geological assessment report on each of these prospects.

The Company averaged 149 BOE (barrels of oil equivalent) sold per day for the third quarter of 2009, compared to 138 BOE per day for the same period in 2008. New production from the Mikwan property contributed approximately 16.6 BOE/day.