TQE Torque Energy Com

Torque Energy Inc. ("the Company") (TSX VENTURE:TQE) today filed with Canadian
securities authorities its unaudited consolidated financial statements and
related Management's Discussion and Analysis for the nine month period ending
August 31, 2008.


The Company realized a profit of $659,118 ($0.05 per share) for the three month
period ended August 31, 2008 compared to a profit of $175,614 ($0.01 per share)
for the same period in 2007. Oil and gas revenues less royalties increased to
$1,213,865 in 2008 versus $806,035 in 2007, primarily due to increased oil
prices. Cash flow from operations totalled $820,480 ($0.06 per share) for the
three month period ended August 31, 2008 compared to $375,445 ($0.03 per share)
for the same period in 2007. For the nine month period ending August 31, 2008
cash flow from operations totalled $2,016,811 ($0.15 per share) compared to
$915,742 ($0.07) for the same period in 2007.


Production sales averaged 139 BOE per day (BOE/d) for the three months ended
August 31, 2008 compared to 158 BOE/d for the same period in 2007 and 138 BOE/d
for the nine month period ended August 31, 2008 compared to 154 BOE/d for the
same period in 2007. The decrease in production represents the normal and
anticipated decline in production. However, the Mikwan Alberta project is
expected to boost production during the fourth quarter in 2008. The wells came
on production late in the third quarter of 2008 and initial daily production
reports indicate that these wells will contribute approximately 19 BOE/d to the
Company's production sales volumes.


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

Torque Energy Com (TSXV:TQE)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Torque Energy Com (TSXV:TQE)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024