Value Microcaps Junior Energy

[DigiTech]

Toreador stealth project under Paris

"It could be the richest oil deposit in Western Europe.
But very few even know of its existence… yet."

Looks like the French don't know much about it. You would think that if they start drilling under the Eiffel Tower somebody would notice. Maybe it's what the tower is for :)

I am fluent in French so I tried to search all the French news about the billions of barrels under Paris. I was not able to find a single recent article in:
Le Figaro
FT
Le Monde
Le journal des finances
L'Expansion
and many more

So I tried the oil people in France like the French Gov. Energy office.

Here is what I found:

French production is 1% of the total use of oil in France. Around Paris(54 %), South West (45 %) Alsace (1 %).
The location of the fields is West of Paris, toward Champagne. (I like my oil with bubbles)

Total reserves for all of France is 18 years at current production. Production is under 1MT per year down from 3MT in the 80's

http://www.developpement-durable.gouv.fr/energie/petrole/pdf/explo-prod-petro-france08.pdf

Since 1958 (first discovery)800 holes have been drilled around Paris. 500 in the center of the Bassin. 3 holes per 100 Square KM.

9 permits were issued in 2008
88% of oil production is from 3 companies Vermilion Rep, Total E&P France, Lundin International.
94% of NG production comes from Total E&P France

Permits for Toreador

In France the company is Toreador Energy France
9 Rue Scribe - 75009 PARIS 09
24 people and 22M Euro revenue.

2 permits given in 2007 to Toreador
Joigny M582 zone 14 02/08/07 valid 4 years 353 sqkm
Rigny le Ferron M583 zone 14 02/08/07 valid 4 years 154 sqkm

They have a few other permits including St Loup D'Oron

4 out of the last 6 drilings were closed.

Toreador production is 9% of the total production in the Paris Bassin.

The following link gives you the detail drilling, status and production.

http://www.developpement-durable.gouv.fr/energie/petrole/pdf/bull_beph022007.pdf

Here is the detail of all permits. Toreador as a small percentage of all permit total size.

http://www.developpement-durable.gouv.fr/energie/petrole/pdf/carte_titres_miniers.pdf


I could not find anything about shale oil in any permit. Only drilling. I will look some more.