Regulatory News:
Toreador Resources Corporation (NASDAQ:TRGL) (Paris:TOR) ("Toreador” or
the "Company”) today announced that non-executive Chairman of the Board,
Dr. Peter J. Hill, has resigned, providing additional time for his other
business commitments.
Craig McKenzie, President and CEO of Toreador, said, "I would like to
thank Peter for his role in leading the Board through a successful
transformation and positioning Toreador for an upcoming period of growth
and wish him all the best going forward.”
Dr. Hill said, "My belief in the potential for development of oil
producing assets in the Paris Basin is undiminished, and I am confident
that the unique opportunity for France will be realized as political
issues become resolved.”
Dr. Hill will not be replaced on the Board of Directors, and the Board
will be reduced to five members. The Board of Directors anticipates
appointing a new non-executive Chairman at its meeting immediately after
the Annual Meeting of Stockholders of Toreador on May 31, 2011.
ABOUT TOREADOR
Toreador Resources Corporation is an independent international energy
company engaged in the acquisition, development, exploration and
production of crude oil. The company holds interests in developed and
undeveloped oil properties in France. The company’s website, www.toreador.net,
provides more information about Toreador.
Safe-Harbor Statement – Except for the historical information contained
herein, the matters set forth in this news release are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Toreador intends that all such statements be subject
to the "safe-harbor" provisions of those Acts. Many important risks,
factors and conditions may cause Toreador's actual results to differ
materially from those discussed in any such forward-looking statement.
These risks include, but are not limited to, estimates of reserves,
estimates of production, future commodity prices, exchange rates,
interest rates, geological and political risks, drilling risks, product
demand, transportation restrictions, actual recoveries of insurance
proceeds, the ability of Toreador to obtain additional capital, and
other risks and uncertainties described in the company's filings with
the Securities and Exchange Commission. The historical results achieved
by Toreador are not necessarily indicative of its future prospects. The
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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