Toreador Resources

Printable company profile from OilVoice
Address
4809 Cole Avenue
Suite 108
Dallas TX
USA 75205


Tel 214 559 3933
Fax 214 559 3945
Web http://www.toreador.net
Email info@toreador.net

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Capex

For fiscal year 2007, Toreador's preliminary capital budget is $81.5 million. Of that total, approximately $52.5 million or 64% of the total budget is allocated to Turkey, $14.2 million or 17% is allocated to Romania, $9.0 million or 11% is allocated to Hungary, and $5.6 million or 7% is allocated to France. US capital spending will be minimal.

Future Plans

The goal of the company's five-year strategic plan is to approximately double production each year through 2010, and the company estimates that production in 2007 of 2.5 MMBOE will more than double estimated production for 2006.

Production

2007 Production

Oil (MBbls)                 
France: 383      
Turkey: 66
Romania: 10
Total: 459

Gas (MMcf)
Turkey: 905
Romania: 689
Total: 1,594

MBOE
France: 383
Turkey: 217
Romania: 124
Total: 724

For the twelve months of 2006, Toreador's oil and gas production was approximately 741 thousand barrels of oil equivalent (MBOE) compared to 624 MBOE for the twelve months of 2005. The average realized price in 2006 was $53.96 per barrel of oil equivalent (BOE) compared to $49.86 per BOE for in 2005. The average realized price of oil for the twelve months of 2006 was $60.90 compared to $50.17 for the twelve months of 2005. The average realized price of natural gas for the year ended December 31, 2006 was $4.96 per thousand cubic feet (MCF) compared to $7.56 per MCF for the twelve months ended December 31, 2005.

Reserves

At year-end 2007, estimated proved reserves from continuing operations were approximately 13.2 million barrels of oil equivalent (MMBOE), compared to 14.6 MMBOE at December 31, 2006. During 2007, Toreador sold its U. S. properties, representing approximately 1.4 MMBOE at December 31, 2006, as previously announced, and produced approximately 462 thousand barrels of oil and 1.5 billion cubic feet of gas. The discounted present value at 10% (pre-tax) of proved reserves (a non-GAAP financial measure(a)) at year-end 2007 was approximately $376.2 million compared to $237.3 million at year-end 2006.

Estimated probable reserves at December 31, 2007 were approximately 6.5 MMBOE compared to 6.1 MMBOE at December 31, 2006. The discounted present value at 10% (pre-tax) of probable reserves at year-end 2007 was approximately $125.2 million compared to $70.0 million at year-end 2006.

Estimated possible reserves at year-end 2007 were approximately 1.1 MMBOE compared to 0.7 MMBOE at December 31, 2006. The discounted present value at 10% (pre-tax) of possible reserves at December 31, 2007 was approximately $23.6 million as compared to $7.2 million at December 31, 2006.

At year-end 2006, estimated proved reserves were approximately 16.0 million barrels of oil equivalent (MMBOE), compared to 15.0 MMBOE at December 31, 2005. The discounted present value at 10% (pre-tax) of proved reserves (a non-GAAP financial measure) at year-end 2006 was approximately $256.6 million compared to $224.8 million at year-end 2005.

Who's Who

Nigel J.B. Lovett
President and Chief Executive Officer
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Michael J. FitzGerald
Executive Vice President, Exploration and Production
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Edward Ramirez
Senior Vice President, Exploration and Production
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Charles J. Campise
Vice-President and Chief Accounting Officer
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John Mark McLaughlin
Chairman
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Alan D. Bell
Director
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Nicholas Rostow
Director
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Herbert C. Williamson III
Director
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Offices

United States
Head Office
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