Toreador Not Moving Forward on Black Sea Sale
Toreador Resources Corporation announced that the previously disclosed negotiations with the winning bidder for the sale of a portion of its working interest in the South Akcakoca Sub-Basin project and surrounding Western Black Sea exploration acreage have ended. The parties, including the three companies associated with the bidder, were unable to reach mutually acceptable terms. Toreador expects to pursue other options with regard to this particular asset.
Also, David M. Brewer resigned from the Toreador Board of Directors although he has not indicated that his resignation is due to any disagreement relating to Toreador's operations, policies or procedures.
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