Offshore staff

DALLAS, Texas -- Toreador Resources Corp. has provided a summary of its year-end 2006 reserves report results along with an operations update.

At year-end 2006, the company had 16 MMboe in estimated proved reserves compared to 15.0 MMboe at the close of 2005. Estimated probable reserves as of Dec. 31, 2006, were 6 MMboe, compared to 5.7 MMboe at the end of December 2005.

Estimated possible reserves at year-end 2006 were approximately 700,000 boe compared to 400,000 boe at the end of the preivous year.

Toreador's capex for 2006 totaled $128.5 million, compared to a 2006 budget of $100 million. Expenditures for 2006 exceeded the budget primarily because of incremental cost increases for infrastructure construction and because the drilling schedule for the South Akcakoca sub-basin offshore Turkey in the Black Sea was expedited. During 2006, 70% of Toreador's capex, amounting to $89.9 million, went to Turkey.

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

Exploration drilling offshore Turkey is underway. TheSouthern Cross semisubmersible is drilling the Guluc-1 well, and the Prometheus jackup has finished completing and tying back the Dogu Ayazli wells to their production tripod.

In mid-February, the jackup was drilling a well on the Alapli prospect northeast of the Ayazli field. In August, thePrometheus is scheduled to begin work for Toreador in its Thrace Black Sea permit area in the extreme western end of Turkish coastal waters of the Black Sea.

2/21/2007