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Toreador resources Corp. (TRGL) RSS Feed

Followers
8
Posters
29
Posts (Today)
0
Posts (Total)
245
Created
11/07/07
Type
Free
Moderators

 


Toreador Resources is a well-rounded independent oil and gas company. An international explorer and producer, the company has a promising inventory of producing properties and exploratory prospects in Turkey, France, Romania and Hungary.

In early 2004, Toreador sold its U.S. mineral and royalty assets, which repositioned the company as an international explorer and developer. The sale empowered the company to take advantage of higher-potential exploration opportunities overseas that create greater long-term value for investors.

In 2004, Toreador along with its joint venture partners TPAO (the Turkish national oil company) and Stratic Energy discovered natural gas in the shallow coastal waters of the Turkish Black Sea. This is the first commercial discovery ever in these waters and has opened up a new frontier  for hydrocarbon exploration.

Toreador Resources Corporation, together with its subsidiaries, engages in oil and natural gas exploration, development, production, leasing, and acquisition activities. The company holds the right to explore and develop oil and natural gas properties in offshore and onshore Turkey, Hungary, Romania, and France. Its properties include the Western Black Sea Permits, the South Akcakoca Sub-Basin, the Eregli sub-Basin, the Thrace Black Sea Permits, the Sea of Marmara Permit, the Central Black Sea Permits, the Eastern Black Sea Permit, the Van Permit, the Adiyaman Permits, and the Bakuk Permit in Turkey; Szolnok Block and Tompa Block in Hungary; the Viperesti Permit, the Moinesti Permit, and the Fauresti Rehabilitation Permit in Romania; and the Charmottes Field, the Neocomian Complex, the Courtenay Permit, the Nemours Permit, the Aufferville Permit, the Rigny Permit, the Joigny Permit, the Malesherbes Permit, and the Mairy Permit in France. As of December 31, 2007, the company held interests in approximately 5.9 million gross acres and approximately 4.8 million net acres; and had estimated net proved reserves of 13.3 million barrels of oil equivalent. Toreador Resources, formerly known as Toreador Royalty Corporation, was founded in 1951. The company is headquartered in Dallas, Texas.
 

The company is drilling for conventional crude oil. Don't be confused by the term "shale oil". Toreador isn't after the oil bearing rocks, know as oil shale. They want liquid crude oil in an area that has a lot of shale.

Toreador has completed a review of its conventional growth opportunities in France and is working towards the expedited spud of the La Garenne well scheduled for late 2009 pending regulatory approvals. The Company believes the well has low risk and is forecast to prove up to 30 million barrels of oil in place, which should expose the Company to a two-fold potential increase in net barrels of proved and probable reserves. The Company has a 100% interest in the well.

Paris Basin Shale Oil.The Company is pursuing the exploitation of unconventional resources in the Paris Basin, which is a transformational growth opportunity. Toreador's work in this area has shown that the Paris Basin has exceedingly similar characteristics to the Bakken Formation in the Williston Basin (North America). The Company has the right to develop 649,000 acres (with an additional 153,000 acres pending regulatory approval) in the heart of the Paris Basin where an estimated 65 billion barrels of oil are believed to remain in the source rock that is located between the long-producing conventional reservoirs of the Paris Basin.

The Company intends to use its proven U.S. experience with the Bakken Formation in Europe to exploit the vast resources that are demonstrated to be in the Paris Basin, using technologies commonplace in the U.S., but not yet employed in Europe. Pursuit of the Paris Basin Oil Shale will comprise four phases, with the scope of the latter three phases depending on previous results. The Company's current focus is on implementing Phase 1 through the end of 2010.

 


Toreador Resources Corp.
13760 Noel Road
Suite 1100
Dallas, TX 75240-1383
Phone: 214-559-3933
Fax: 214-559-3945
Web Site: http://www.toreador.net


Headquarters:
Toreador Resources Corporation
9 rue Scribe
75009 Paris, France
Tel: 33 (0) 1 47 03 34 24
Fax: 33 (0) 1 47 03 33 71

Toreador welcomes inquiries from investors, the media, business associates and others. Please contact:

Shirley Anderson, Corporate Secretary
Toreador Resources Corporation
13760 Noel Road, Suite 1100
Dallas, TX 75240-1383
(214) 559-3933 phone
(214) 559-3945 fax
Email Toreador Resources

Fundamentals

52 Week High  12.39
52 Week Low 1.96
YTD Price Percent Change 45.64%
Beta (5-Year) 1.10
Market Cap (Total, All Common Classes) (mil) 184
As of 06/06/08

Shares Outstanding
Volume (10 Day Average) (mil) 126
Shares Outstanding (Total, All Classes) (mil) 19.94
Shares Outstanding Average, latest FYE (mil) 18.36
Float: 15.31M
% Held by Insiders1: 36.88%
% Held by Institutions1: 49.90%

Income Statement
Net Sales 41.69
Gross Profit 26.95
Income Before Taxes -86.14
Net Income -74.42
Fiscal Yr. Ending - 12/31/07
Valuation Ratios
Price to Earnings -2.22
Price to Revenue 3.87
Price to Book 1.15
Price to Cash Flow -7.04


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