Toreador Resources to Abandon the Cayagzi-1 Well

Toreador Resources says the Cayagzi No. 1 exploration well in the South Akcakoca sub-basin in the Black Sea, offshore Turkey was drilled to a total depth of 1,200 meters but failed to encounter hydrocarbons. The well is being plugged and abandoned and the Prometeu will now proceed to the next drilling location to drill a development well on the Akkaya discovery.

Onshore Turkey, in the Calgan-2 well, a 600m lateral drain has been drilled along the top of the Sayatepi formation. Oil shows were encountered during drilling, and the well will be tested once the drilling rig currently on location is demobilized and replaced with a completion rig.


In the Paris basin, core and log data confirm the presence of oil in approximately 4.6 meters of net pay in the La Tonnelle-1 exploration well in the Nemours permit. The well is currently suspended awaiting testing of the potential discovery. It is anticipated that once the current drilling rig is demobilized and replaced with a workover rig, the well will be perforated and production testing will commence. Results from testing could be available as soon as early December. Toreador currently has an equal interest in the well with the operator, Lundin Petroleum. After results from testing, Vermilion Energy Trust, which has a 33-1/3% working interest in the Nemours permit, has the option upon payment of a non-consent penalty to be reinstated and participate equally with Toreador and Lundin, at which time Toreador's interest will revert to 33-1/3% interest in the well.

In the Charmottes Field, coring operations are being conducted in the Charmottes-6D well on the target Donnemarie formation.


In the Fauresti Field rehabilitation permit, the sixth well in the re-entry program, the Fauresti-180, is being tested. Another six re-entry wells are planned in the program which will continue through 2006.

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