Toreador Identifies Six Prospects in the Western Black Sea

Toreador Resources has identified at least six gas prospects in the shallow-water western Black Sea. Toreador believes that these prospects have a per-prospect reserve potential ranging from 200 billion cubic feet to 1 trillion cubic feet. The reserve potential estimate is the result of a 2D seismic survey completed on four contiguous permits in 2002.

The company anticipates selecting two well locations, with drilling targeted to begin by early 2004. Toreador is operator and holds a 49% working interest in eight Black Sea permits. The Turkish national oil company, TPAO, holds the remaining interest.