Contact Information: For further information please contact: Investor Relations in the U.S. Pfeiffer High Investor Relations, Inc. Geoff High Principal Phone: 303-393-7044 Email: Torrent Energy Corp. John Carlson President & CEO Phone: 503-224-0072 Email: Investor Relations in Canada CHF Investor Relations Cathy Hume CEO Phone: 416-868-1079 ext. 231 Email:
Torrent Energy Reports Progress on Financing Efforts and Joint Venture Discussions
| Source: Torrent Energy Corporation
PORTLAND, OR--(Marketwire - December 14, 2007) - Torrent Energy Corporation (the "Company")
(OTCBB : TREN ) today announced that it is making progress on its efforts to
establish additional sources of capital for the advancement of its Coos Bay
coal-bed methane project. Management said the Company also is in detailed
discussions with a prospective joint venture partner that has expressed
interest in participating on the project.
John Carlson, president and CEO, said, "While the establishment of a new
financing package is taking longer than anticipated, we are making
meaningful progress and are optimistic that our efforts to finalize a
transaction will be successful. We obviously are working to negotiate a
transaction that is in the best interest of Torrent and its shareholders.
While we cannot provide a definitive timetable for the completion of a
funding arrangement, we will announce the results of these efforts as soon
as possible."
About Torrent Energy Corporation
Torrent Energy Corporation is an exploration company focusing on developing
non-conventional natural gas reserves in the Northwestern United States.
The Company's primary objective is to create value for stakeholders by
applying strong technical expertise to projects. The current focus of the
Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of
the Coos Bay Basin project in southwestern Oregon where the Company
currently has a land portfolio that includes over 118,000 acres of
prospective land. For more information please visit www.torrentenergy.com.
Safe Harbor Statement:
This news release includes statements about expected future events and/or
results that are forward-looking in nature and subject to risks and
uncertainties. Forward-looking statements in this release include, but are
not limited to that we are optimistic that our efforts to finalize a
financing transaction will be successful. It is important to note that
actual outcomes and the Company's actual results could differ materially
from those in such forward-looking statements. Factors that could cause
actual results to differ materially include the uncertainty of the
requirements demanded by environmental agencies, the Company's ability to
raise financing for operations, potential delays or obstacles in drilling
and/or interpreting data, market fluctuations and spot prices for gas, and
the possibility that no commercial quantities of gas are found or
recoverable. For more risk factors about our Company, readers should refer
to risk disclosure in our most recent 10-K and Form 10-Q filed on Edgar.