Toreador produces Black Sea gas

Toreador Resources Corp. reports that the Akkaya-1 delineation well has tested natural gas. The company drilled the well on the South Akcakoca sub-basin project 3 km off Turkey in the shallow waters of the western Black Sea.

Offshore staff

Toreador Resources Corp. reports that the Akkaya-1 delineation well has tested natural gas. The company drilled the well on the South Akcakoca sub-basin project 3 km off Turkey in the shallow waters of the western Black Sea.

Well logs indicated gas in zones between 853 m and 1,136 m. Perforations between 1,050.5 m and 1,135.5 m tested an 11 m section at a sustained rate of 7.6 MMcf/d on a 36/64-in. choke at a flowing well head pressure of 913 psi. Final shut-in pressure was 1,395 psi.

The well holds other productive intervals between 853 m and 927 m. The company will perforate and produce an additional 36 m of gas bearing sands uphole after the deeper zones are depleted.

The Akkaya-1 well is the first confirmation well drilled after the Ayazli-1 exploration well, 7 km to the northwest, and produces from the Eocene Kusuri formation. The same Tertiary sequence tested gas in the nearby Akcakoca-1 well, which TPAO drilled in 1976. Toreador drilled, tested, and suspended Ayazli-1 in September 2004.

Toreador will temporarily suspended the new well. The company has prepared a Guardian II production sleeve for installation during the second week of June. As soon as operations are complete at the current location, the operator will move thePrometheus jackup to drill a second offset well.

TPAO owns 51% working interest in the acreage, while Toreador Resources Corp. (operator) has a 36.35% working interest and Stratic Energy Corp. holds a 12.25% working interest.

5/31/05

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