TORC Oil & Gas Ltd. provided capital expenditure guidance for the year 2016. The company announced that the company's board of directors has approved a 2016 capital budget of $90 million. TORC's strategic objectives associated with the 2016 capital budget are consistent with the Company's long term objectives of delivering disciplined growth in combination with maintaining financial flexibility while providing a sustainable dividend over the long term.

TORC's 2016 capital budget exhibits a measured approach to the continued uncertainty in the world oil price environment and reflects a balance between managing long term objectives, protecting the Company's strong financial position and sustaining the dividend. TORC's 2016 capital budget is specifically focused on: Investing in higher rate of return, lower risk light oil opportunities across the company's extensive development drilling inventory; Maintaining current production levels and maximizing free cash flow through an efficient capital program focused on high graded drilling opportunities; Maintaining a focus on the Company's decline profile; Directing the pace of the capital program to maintain spending flexibility throughout the year given the ongoing volatility of crude oil prices; and Maintaining TORC's strong financial position and flexibility to take advantage of additional growth opportunities as they arise.