TORC Oil & Gas Ltd. and Vero Energy Inc. have closed the plan of arrangement whereby Vero and TORC have been combined to create a new light oil resource company called TORC Oil & Gas Ltd..

The combination has resulted in a well positioned light oil producer with a large inventory of Cardium light oil development assets complemented by significant exposure to the emerging Monarch light oil resource play in the southern Alberta Bakken petroleum system.

It is expected that the common shares of New TORC will commence trading in substitution of the common shares of Vero on the TSX under the trading symbol "TOG" within two to three business days following the date hereof. Common shares of Vero will continue to represent common shares of New TORC on a one for one basis without any action on the part of the holder.

Tags: TORC Oil & Gas Ltd., Vero Energy