Graves resigns as president, CEO of Toreador

Jan. 30, 2007
G. Thomas Graves III, president and CEO of Toreador Resources Corp., has resigned to pursue other business interests.

Offshore staff

DALLAS, Texas -- G. Thomas Graves III, president and CEO of Toreador Resources Corp., has resigned to pursue other business interests. Toreador board of directors elected existing board member Nigel Lovett as the company's new president and CEO. Current board member Herbert Williamson III was elected vice chairman of the board of directors.

"We are excited about the changes at Toreador and their implications for unlocking shareholder value," said Toreador's chairman, John Mark McLaughlin. "We salute Tom Graves for his many years of service, during which he presided over the growth of the company, the Madison merger and our subsequent international success, and we wish him well. We are fortunate that Nigel Lovett will be our new president and CEO and that Herb Williamson will be assisting me as vice chairman of the Board. These men bring us extensive skills and experience in the areas of international finance and the European capital markets, foreign governmental relations at the highest level, and corporate transformation of a small private oil company into a major public independent."

01/30/2007

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