TORO (2.01) Toro Ventures Inc. Announces That the Crown Lease Has Begun to Produce Natural Gas in Pay Quantities
Thursday, June 26 2008 2:00 PM, EST
Market Wire "US Press Releases "
SEATTLE, WA -- (MARKET WIRE) -- 06/26/08 -- Toro Ventures Inc. (OTCBB: TORO) is proud to announce that the Crown Lease has begun to produce natural gas in pay quantities. Toro has engaged Scissortail and Erifin Gas Companies to test the well on Monday June 30, 2008 . Toro will keep shareholders updated on the results of the test.
Meanwhile, the Quinlan #3 well has been pumping at a rate of 300 bls of salt water a day for the past week. The fracture water has almost all been pumped out of the well and the well has begun to color up with oil and gas. The Quinlan #3 Lease is located in the Hunton Limestone formation and this is considered to be one of the best producing formations in Oklahoma . The region has produced in excess of 5.8 million barrels of oil to date, with value of over $626 Million USD .
Frederick Graham, President & CEO of Toro Ventures, Inc. , comments, "We are very pleased with the results on both the Crown and Quinlan well. We expect to be announcing our first production numbers within the next 20 days. The Company will be keeping shareholders advised of all production results from both the Crown and Quinlan well."
Toro Ventures, Inc. has moved aggressively into the oil and natural gas exploration business. Oil and gas prices are at high levels due to increased world energy demands and supply shortfalls. These higher prices should enable smaller and faster moving companies like Toro Ventures to be aggressive in acquiring further opportunities within the sector.
More information on will be made available on Toro's corporate website, www.toroventuresinc.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Contacts:
Toro Ventures, Inc.
Investor Relations
1-206-922-2001
CEO and President
Frederick Graham
1-206-273-7850
www.toroventuresinc.com
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