<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001496648</cik>
        <entityName>Torquay Oil Corp.</entityName>
        <issuerAddress>
            <street1>SUITE 600, 255 - 5TH AVENUE S.W.</street1>
            <city>CALGARY</city>
            <stateOrCountry>A0</stateOrCountry>
            <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
            <zipCode>T2P 3G6</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>403-233-2444</issuerPhoneNumber>
        <jurisdictionOfInc>ALBERTA, CANADA</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>Torquay Oil Cor.</previousName>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>J.</firstName>
                <middleName>Brent</middleName>
                <lastName>McKercher</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Terry</firstName>
                <middleName>R.</middleName>
                <lastName>McCallum</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Darwin</firstName>
                <middleName>K.</middleName>
                <lastName>Little</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>D.</middleName>
                <lastName>Irish</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Angus</firstName>
                <lastName>Jenkins</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Harley</firstName>
                <middleName>L.</middleName>
                <lastName>Winger</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Allen</firstName>
                <middleName>F.</middleName>
                <lastName>Emes</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Wazir</firstName>
                <middleName>C.</middleName>
                <lastName>Seth</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>R.</middleName>
                <lastName>Verbuck</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 600, 255 - 5th Avenue S.W.</street1>
                <city>Calgary</city>
                <stateOrCountry>A0</stateOrCountry>
                <stateOrCountryDescription>ALBERTA, CANADA</stateOrCountryDescription>
                <zipCode>T2P 3G6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Oil and Gas</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$1 - $1,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-07-05</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isOptionToAcquireType>true</isOptionToAcquireType>
            <isSecurityToBeAcquiredType>true</isSecurityToBeAcquiredType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Each subscription receipt is comprised of one Class A share and one-half of one share purchase warrant. Each whole warrant is exercisable for one Class A share at an exercise price of Cdn$1.40 per share for 12 months from the closing date.</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>true</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Canaccord Genuity Inc.</recipientName>
                <recipientCRDNumber>1020</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>99 High Street</street1>
                    <city>Boston</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                    <zipCode>02110</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>9107191</totalOfferingAmount>
            <totalAmountSold>1594996</totalAmountSold>
            <totalRemaining>7512195</totalRemaining>
            <clarificationOfResponse>The additional $7,512,195 may be received upon exercise of share purchase warrants sold both inside and outside the U.S.  U.S. dollar amounts are based on the Bank of Canada noon rate of exchange reported on July 5, 2010, which was Cdn$1.0660=US$1.00.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>95700</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>In the ordinary course of business the issuer may use some of the proceeds of the offering to pay salaries to certain of its executive officers and directors.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Torquay Oil Corp.</issuerName>
                <signatureName>/s/ Darwin K. Little</signatureName>
                <nameOfSigner>Darwin K. Little</nameOfSigner>
                <signatureTitle>Vice President, Finance and Chief Financial Officer</signatureTitle>
                <signatureDate>2010-07-19</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
