Torrent Energy Files Voluntary Petition for Reorganization

PORTLAND, OR--(Marketwire - June 3, 2008) - Torrent Energy Corporation (OTCBB: TREN) today announced it has commenced Chapter 11 Bankruptcy proceedings by filing a voluntary petition for reorganization under the Bankruptcy Code with the United States Bankruptcy Court for the District of Oregon. Each of Torrent's wholly owned subsidiaries, Methane Energy Corp. and Cascadia Energy Corp., also commenced a case under Chapter 11 of the Bankruptcy Code on the same day. Torrent and its subsidiaries continue to operate their businesses and manage their properties as debtors-in-possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy Code.

The Company expects to file its Plan of Reorganization with the Bankruptcy Court shortly. The Plan is expected to include a senior secured super-priority debtor-in-possession (DIP) credit and guaranty agreement with YA Global Investments, L.P. (formerly known as Cornell Capital Partners, L.P.) pursuant to which the Company will obtain financing for working capital and other approved uses. The Plan of Reorganization is also expected to include a rights offering, under which the shareholders of the Company will have the opportunity to purchase a minimum of $2.0 million of additional new equity, subject to Bankruptcy Court approval and other conditions.

About Torrent Energy Corporation

Torrent Energy Corporation is an exploration company focusing on developing non-conventional natural gas reserves in the Northwestern United States. For more information please visit www.torrentenergy.com.

Forward Looking Statements

This report contains certain "forward-looking statements" that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, particularly those statements regarding the proposed Plan of Reorganization and those preceded by the words "believes," "expects," "estimates," "anticipates," "will" or words of similar import are statements of management's opinion. These statements are subject to certain assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied from the statements herein. Factors that might cause such a variance include the effects of the Chapter 11 filing, the ability of the Company to continue to operate its business and maintain adequate liquidity and the uncertainty of the approval of the Plan of Reorganization. For example, although the Company anticipates entering into the DIP Credit Agreement and the Company anticipates conducting a Rights Offering, there is no assurance that the Bankruptcy Court will approve the Plan of Reorganization, including the DIP Credit Agreement and/or the Rights Offering, or that certain other conditions to the Company's entering into the DIP Credit Agreement or conducting the Rights Offering will be satisfied. These and other risks are or will be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. More detailed information about risk factors that may affect the Company's actual results is set forth in filings by the Company with the SEC on Forms 10-K, 10-Q and 8-K, including the amended annual report on Form 10-K filed by the Company on February 25, 2008. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date of this communication. Except as required by law, we undertake no obligation to publicly update or review any forward-looking statements to reflect events or circumstances that may arise after the date of this report.

Contact Information: For further information please contact: Investor Relations in the U.S. Pfeiffer High Investor Relations, Inc. Geoff High Principal Phone: 303-393-7044 Torrent Energy Corp. John Carlson President & CEO Phone: 503-224-0072 Email: Investor Relations in Canada CHF Investor Relations Cathy Hume CEO Phone: 416-868-1079 ext. 231 Email: