Torrent Energy Corp.
TORRENT ENERGY COMMENCES EXPLORATION DRILLING PROGRAM AT CHEHALIS, WASHINGTON CBM PROJECT
Torrent Energy Corp. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- TORRENT ENERGY COMMENCES EXPLORATION DRILLING PROGRAM AT CHEHALIS, WASHINGTON CBM PROJECT PORTLAND, Oregon – May 8, 2007 – Torrent Energy Corporation (the 'Company') (OTCBB: TREN) today announced it has commenced exploratory drilling operations on its Vader Ryderwood coalbed methane (CBM) project in southwest Washington’s Chehalis Basin. The program is primarily aimed at establishing a significant CBM gas resource in relatively shallow coals. The Company also will investigate potential sandstone reservoirs similar to existing gas pools located in the Mist Field, which is 25 miles southwest of the Vader Ryderwood project area. The initial program includes the drilling of three stratigraphic wells that will test a number of Eocene coal seams for thickness and gas content. The initial well, CEC State 3-36-13-3, spud on April 26, 2007, is projected to be drilled to a depth of approximately 3,000 feet. Individual coal seams will be cored and gas content determined from desorption testing. Additional well locations also are being permitted in the adjoining Cedar Creek project area. The wells are being drilled by Major Drilling Group and desorption analysis is being provided by Coal Gas Technologies. Cascadia Energy Corporation, Torrent’s wholly owned subsidiary, owns a 60% working interest in the project and has partnered with St. Helens Energy LLC, a wholly owned subsidiary of Australia-based Comet Ridge Limited (ASX Code COI). Torrent president and chief executive officer, John Carlson, said, 'We have developed a large land portfolio in the Chehalis Basin that includes numerous exploration leads and prospects. The project area is bisected by the regional interstate pipeline system and will provide future access to the growing Pacific Northwest gas market. 'We believe this project will ultimately translate into a significant CBM resource base for Cascadia,' Carlson added. 'Initiation of this drilling program is an important step in creating value from these assets, and it comes on the heels of our recent announcement of commercial permeability at our Coos Bay CBM project in Oregon. We are obviously very encouraged by the operational momentum we have established with each of our CBM projects.' About Torrent Energy Corporation Torrent Energy Corporation is a growing 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 Washington subsidiary, Cascadia Energy Corp., is on the exploration of the Chehalis Basin project in southwestern Washington where the Company currently has a land portfolio that includes over 155,000 acres of prospective land. For more information please visit www.torrentenergy.com. On behalf of the Board of Directors, TORRENT ENERGY CORPORATION John Carlson, President & CEO For further information please contact: Investor Relations in the U.S. Torrent Energy Corp. Pfeiffer High Investor Relations, Inc. John Carlson, President & CEO Geoff High, Principal Phone: 503-224-0072 Phone: 303-393-7044 Email: jcarlson@torrentenergy.com Email: geoff@pfeifferhigh.com Investor Relations in Canada CHF Investor Relations Kelly Cody, Account Manager Phone: 416-868-1079 ext. 238 Email: kelly@chfir.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 our initial well is projected to be drilled to a depth of approximately 3,000 feet; that Individual coal seams will be cored and gas content determined from desorption testing; that additional well locations are being permitted in the adjoining Cedar Creek project area; and that this project will ultimately translate into a significant CBM resource base for Cascadia. . 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, inability to maintain qualified employees or consultants, competition for equipment, inability to obtain drilling permits, 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 filed on Edgar. DGAP 09.05.2007 ----------------------------------------------------------------------
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