TREN - Torrent Energy Corp.- Penny Stock- Oil & Gas

[aoles]

Good looking chart, indicators are heading up and it had a good day today finishing up 40% It had a big drop about a month ago and now it looks like its setting up to move back up.

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Torrent Energy Corporation is a Colorado-based energy company with its head office located in Portland, Oregon and a field office in Coquille, Oregon. Torrent is committed to pursuing unconventional natural gas niche opportunities with primarily a North American focus. Torrent conducts its business in an environmentally and socially responsible manner.

Torrent's wholly owned subsidiary, Methane Energy Corp., is an Oregon-based exploration company that is pioneering the exploration for natural gas contained in the coal bed seams of the Coos Bay Basin. The Company currently has a land portfolio that is in excess of 116,000 contiguous acres of highly-prospective land in the Coos Bay area. Since 2005, the Company has drilled and tested a number of wells within the basin and additional drilling operations are currently underway.

www.torrentenergy.com

[greencat]

This hit my scan to. If it can take out the last long red candle it may make a nice move.

Chart for TREN
http://www3.stockfetcher.com/sfchart/439666908.png

Torrent Energy Corporation, through its subsidiaries, engages in the exploration for coalbed methane in the Coos Bay region of Oregon and the Chehalis Basin region of Washington State. It holds leases to approximately 118,000 acres of coalbed methane lands in the Coos Bay Basin located approximately 200 miles south of the Columbia River and 80 miles north of the California border. The company also holds leases comprising 100,000 acres located in the Chehalis Basin in Lewis, Cowlitz, and Skamania Counties of Washington; and various lease consisting of 23,735 acres in the Chehalis Basin. In addition, Torrent Energy has an option to acquire 15,280 acres of mineral rights interests in Cowlitz and Lewis Counties, Washington. Torrent Energy is based in Portland, Oregon.


Average Volume (10 day)3: 258,689
Shares Outstanding5: 41.73M
Float: N/A
% Held by Insiders1: 3.67%

Income Statement
Revenue (ttm): N/A
Revenue Per Share (ttm): N/A
Qtrly Revenue Growth (yoy): N/A
Gross Profit (ttm): -968.83K
EBITDA (ttm): -3.93M
Net Income Avl to Common (ttm): -9.76M
Diluted EPS (ttm): -0.256
Qtrly Earnings Growth (yoy): N/A


Balance Sheet
Total Cash (mrq): 171.13K
Total Cash Per Share (mrq): 0.004
Total Debt (mrq): 21.88K
Total Debt/Equity (mrq): 0.001
Current Ratio (mrq): 0.448
Book Value Per Share (mrq): 0.309


Cash Flow Statement
Operating Cash Flow (ttm): -3.44M
Levered Free Cash Flow (ttm): -11.94M

[sg1efc]

Torrent Energy Files Voluntary Petition for Reorganization
Tuesday June 3, 2:02 pm ET

PORTLAND, OR--(MARKET WIRE)--Jun 3, 2008 -- Torrent Energy Corporation (OTC BB:TREN.OB - News) 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.