Regulatory News:
Toreador Resources Corporation (NASDAQ:TRGL) (Paris:TOR) today announced
the following operational update:
As already fully disclosed, Toreador Energy France S.C.S. filed an
application on December 11, 2008 to request the extension of the
validity of the Châteaurenard concession and of the
Saint-Firmin-des-Bois concession for an additional period of 25 years in
relation to the Company’s conventional oil producing operations.
Following the standard review period requiring a decision on the renewal
of such concessions within a period of approximately two years from the
date of the applications, Toreador has been informed by the French
authorities that the decrees relating to the renewal of the
Châteaurenard Concession and of the Saint-Firmin-des-Bois Concession are
currently in the process of being executed in order to be published in
the French Journal Officiel during January 2011.
Although the decrees were not published prior to January 1, 2011,
Toreador, on the basis of information provided by French authorities,
understands that the Châteaurenard Concession and the
Saint-Firmin-des-Bois concession will shortly be renewed retroactively
as of January 1, 2011 and Toreador will continue to operate under such
concessions. As a result, Toreador does not anticipate any disruption to
operations on either concession.
The renewal of these conventional oil concessions is not related in any
way to Toreador's exploration permits, on which Hess and Toreador agreed
to carry soon Shale exploration work under the investment agreement
dated May 10, 2010.
ABOUT TOREADOR
Toreador Resources Corporation is an independent international energy
company engaged in the acquisition, development, exploration and
production of natural gas and 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.
