Toreador Raises $32.6 Million in Stock Sale

Toreador Resources Corporation (Nasdaq: TRGL) sold 1,437,500 shares of its common stock pursuant to a public offering at a price of $24.25 per share. The sale resulted in net proceeds of approximately $32.6 million.

The shares sold include 187,500 shares of common stock purchased by Morgan Keegan & Company, Inc., the underwriter of the offering, to cover over-allotments in connection with the offering.

Toreador intends to use the net proceeds from the sale primarily to fund its 2005 capital expenditure budget and also for general corporate purposes.
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