Toreador Requests Nasdaq Panel Hearing
As previously disclosed, Toreador Resources Corporation received a Staff Determination Letter from the Nasdaq Stock Market stating that Toreador violated Nasdaq Marketplace Rule 4310(c)(14) because it had not filed its Quarterly Report on Form 10-Q for the period ended September 30, 2006 in a timely manner. In response to such Staff Determination Letter, Toreador has requested a hearing before the Nasdaq Listings Qualifications Panel, which will be held on January 11, 2007. Toreador has announced the expected filing date of its Quarterly Report on Form 10-Q for the period ended September 30, 2006 to be on, or before, January 11, 2007. Pending a decision at the hearing, Toreador shares continue to be listed and trade on the Nasdaq Stock Market.
As a result of the delayed Form 10-Q filing, Canadian regulators have, according to their policies, issued orders to cease trading of Toreador shares in Canada. Toreador has retained Canadian counsel to investigate its alternatives in Canada.
Toreador Resources Corporation is an independent international energy company engaged in the acquisition, development, exploration and production of natural gas, crude oil and other income-producing minerals. The company holds interests in developed and undeveloped oil and gas properties in France, Hungary, Romania and Turkey. In the United States, Toreador primarily owns working interests in five states.
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