Torquay has drilled four Bakken horizontal wells at Lake Alma, Saskatchewan, in fulfilment of a farmin agreement on a major industry partner, and as a result has earned a 60% working interest in 81 sections (51,840 acres) of land. A fifth Bakken horizontal has been drilled which has earned Torquay a 100% working interest in an additional 5 sections (3,200 acres) for a total of 86 sections (55,040 acres) of land at Lake Alma.

• Two of the wells are on production, two are being evaluated for completion, and one will be completed in Q1, 2011.
• Torquay validated 3 Exploration Licences by drilling 3 exploration wells. The majority of the lands in these Licences have now been converted to 5-year leases allowing for full-scale development without expiry issues.
• Torquay continues to have access to all proprietary and trade 2D and 3D seismic data in the Lake Alma area in the possession of the industry partner.
• Torquay has recently entered into a farmin agreement with a second major industry partner in the Lake Alma area. Torquay has committed to drill one well to earn 3.75 sections (2,400) acres with the option to drill an option well to earn an additional two sections (1,280 acres).
• Torquay is planning to shoot a large 3D seismic survey over the western portion of the Lake Alma block where there is currently only sparse 2D coverage and no 3D.
• Torquay has an enviable land position (86 sections, with the potential to earn up to 91.75 sections).