TORC Oil & Gas Ltd. announced the company's Board of Directors has approved a 2017 capital budget of $130 million. The company's strategic objectives associated with the 2017 capital budget are consistent with the company's long term objectives of delivering disciplined per share growth in combination with maintaining financial flexibility while providing a sustainable dividend over the long term. The company's 2017 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; Achieving per share production growth and maximizing free cash flow through an efficient capital program focused on high graded drilling opportunities; maintaining the company's decline profile; directing the pace of the capital program to maintain spending flexibility throughout the year; and maintaining company's strong financial position and flexibility to take advantage of additional growth opportunities as they arise. The company's capital program in 2017 is focused on light oil development projects, with the majority of the capital directed to drilling, completions and tie-ins (approximately 80%) with the remainder allocated to operational and facility optimization to maximize production efficiency. The capital program is concentrated on the company's primary core areas in southeast Saskatchewan, focused on both conventional opportunities and the Torquay/Three Forks play, as well as the Cardium play in central Alberta. The company remains positioned to achieve the previously announced 2016 exit guidance of 19,600 boepd while maintaining a corporate decline profile of approximately 23%. The company anticipates that the $130 million 2017 capital budget will result in 2017 average production of 19,900 boepd (87% liquids) and exit production of 20,600 boepd (87% light oil and liquids) while continuing to maintain a decline profile of approximately 23%.