Torrent Energy Corporation (Torrent) is an exploration-stage company, formed by the merger of Scarab Systems, Inc., a Nevada corporation into iRV, Inc., a Colorado corporation. On April 30, 2004, Torrent incorporated an Oregon subsidiary company, named Methane Energy Corp. (Methane) in anticipation of acquiring oil and gas properties in the State of Oregon. On May 11, 2004, Methane entered into a lease purchase and sale agreement (the Agreement) with GeoTrends-Hampton International LLC (GHI) to purchase GHI's undivided working interest in certain oil and gas leases for the Coos Bay Basin prospect located onshore in the Coos Bay Basin of Oregon. Pursuant to the GHI Agreement, the Company acquired leases of certain properties in the Coos Bay area of Oregon that are prospective for oil and gas exploration. As of June 30, 2004, the Company has no properties with proven reserves. The Company changed its name from Scarab System, Inc. on July 13, 2004.