Toreador Resources Corp.

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Sellers
Marketers
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Description

Toreador Resources Corp., Dallas, (Nasdaq: TRGL) has retained Merrill Lynch & Co. to explore strategic alternatives for the company. Toreador president and chief executive Nigel Lovett says, "We are taking these steps to enhance shareholder value. Although we believe we have many exciting exploration prospects to evaluate over the next several years, we believe it only prudent to retain Merrill Lynch to assist us in developing a strategy that is in all respects in the best interests of shareholders." Toreador has interests in offshore and onshore oil and gas properties on approximately 5.9 million gross acres (4.8 million net), including 10 permits in Turkey, two blocks in Hungary, three permits in Romania and nine permits in France. As of Dec. 31, net proved reserves were 13.3 million barrels of oil equivalent.