Petrol Ofisi, Toreador Resources agreement in doubt

Toreador Resources has been notified by Petrol Ofisi, the buyer of its 26.75% interest in the South Akcakoca sub basin project, that they believe certain material adverse changes have occurred under the assignment agreement and that a condition precedent to the closing of the transaction has not been fulfilled.

Offshore staff

DALLAS -- Toreador Resources has been notified by Petrol Ofisi, the buyer of its 26.75% interest in the South Akcakoca sub basin project, that they believe certain material adverse changes have occurred under the assignment agreement and that a condition precedent to the closing of the transaction has not been fulfilled.

Petrol Ofisi has also requested mutual discussions for resolution of the issues at a meeting to be held on Jan. 9.

01/07/2009

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