TQE Torque Energy Com

Torque Energy Inc. (TSX VENTURE:TQE) ("the Company") today filed with Canadian
securities authorities its audited financial statements and related Management's
Discussion and Analysis for the year ended November 30, 2010 and the reports
relating to reserves data and other oil and gas information as at November 30,
2010. 




Operating highlights:              November 30, 2010                        
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  -  Net income                    $542,146 or $0.04 per share              
  -  Bank indebtedness             $1.5 million, 31% reduction              
  -  Net asset value (NAV)         $15,069,235 or $1.09 per share           
                                                                            
 Note: The term BOE may be misleading, particularly if used in isolation. A 
    BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency   
 conversion primarily applicable at the burner tip and does not represent a 
  value equivalency at the wellhead. The term NAV is defined as Net Present 
  Value of future cash flow from proved reserves discounted at ten percent  
   plus accounts receivable and minus bank indebtedness and minus accounts  
                      payable and accrued liabilities.                      



The Company realized a profit of $542,146 on revenues of $2,934,690 for the
twelve months ended November 30, 2010 compared to a profit of $333,315 on
revenues of $2,763,803 in 2009. Throughout 2010, the Company reinvested
approximately $822,000 in capital projects to further develop its resource
prospects in the southwestern Ontario basin.


During the year, the Company successfully closed the sale of the Dover East
Field natural gas storage reservoir to Union Gas. The proceeds to date from this
transaction amount to approximately $696,000 and have contributed to the Company
reducing its bank indebtedness.


VON Resource Management Ltd. Of Calgary, Alberta, independent petroleum
consultants prepared a report dated March 20, 2011 in which VON evaluated the
quantity of reserves and the value of estimated future cash flow of the
Company's total estimated Canadian reserves effective November 30, 2010 as
follows:




                                       Escalated Cdn. $                     
                  ----------------------------------------------------------
                                   Working Interest                         
                  Working Interest Company Reserves Net Present Value of Net
                  Company Reserves net of Royalties    Cash Flow (pre-tax)  
                  ----------------------------------------------------------
                       Oil     Gas      Oil     Gas                         
                      MSTB    MMCF     MSTB    MMCF       0%     10%     15%
                  ----------------------------------------------------------
Proved Producing       538   1,138      464     977   46,235  16,372  12,539
Total Proved (ii)      538   1,207      464   1,038   46,149  16,288  12,454
Proved plus                                                                 
 Probable (2P)                                                              
 (ii)                  649   1,333      561   1,141   60,078  18,073  13,472
                                                                            
(ii) Includes abandonment and reclamation liability net of salvage value for
                     the Company's non-producing wells.                     



Copies of the filed documents may be accessed electronically through the SEDAR
website at www.sedar.com and the Company's website www.torqueenergy.com.

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