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Toreador Announces Success of Second Well in Dogu Ayazli Field Offshore Turkey and Completion of Romanian Re-Entry Well as Gas Producer.


DALLAS -- Toreador Resources Corporation (Nasdaq:TRGL):

--Dogu Ayazli field offshore Turkey delineated de·lin·e·ate  
tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates
1. To draw or trace the outline of; sketch out.

2. To represent pictorially; depict.

3.
 by successful development well

--Third well in Akkaya field expected to reach total depth this week

--Seventh Romanian re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had.
     2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the
 well in Fauresti field tested natural gas production of 2 MMcfd

Toreador Resources Corporation (Nasdaq:TRGL) and its partners TPAO TPAO Türkiye Petrolleri Anonim Ortakligi (Turkish Petroleum Corporation)  (the Turkish national oil company) and Stratic Energy Corporation today announced that the Dogu Ayazli-2 development well confirmed the presence of significant accumulations of natural gas in the Dogu Ayazli structure. Preliminary log analysis indicates natural gas in approximately 106 meters (348 feet) of sands in 10 zones from 727 to 1,173 meters (2,386 to 2,849 feet) true vertical depth in the same Kusuri producing formations as the Dogu Ayazli-1 exploration well. The Dogu Ayazli-2, which was drilled to a bottom hole location approximately 600 meters (1,969 feet) west northwest Noun 1. west northwest - the compass point midway between west and northwest
WNW

compass point, point - any of 32 horizontal directions indicated on the card of a compass; "he checked the point on his compass"
 of the discovery well, will be tested when it is tied back to the Dogu Ayazli production tripod which will be installed later this year.

"The Dogu Ayazli-2 results confirm that this structure contains a significant amount of natural gas," said G. Thomas Graves
This article is about Sir Thomas Graves, knight of the Order of Bath. For information on his cousin, The Lord Graves, see Thomas Graves, 1st Baron Graves.


Admiral Sir Thomas Graves KB RN (1747?–1814), admiral, third son of the Rev.
 III, Toreador President and Chief Executive Officer, "and closely mirrors the excellent outcome of the Dogu Ayazli-1 well. Compared to the Ayazli wells, the deeper sands are thicker and additional pay zones are present. These developments have good implications for further development of this field and for other prospects and leads in the South Akcakoca Sub-basin. Results from our drilling operations in the South Akcakoca Sub-basin have been consistently better than expected."

Due to the success of the two Dogu Ayazli wells, the joint venture operating committee has exercised the option on a third tripod production structure which will be set along with the Ayazli and Akkaya tripods in the May-July time frame. Bids for the construction of the subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater".  pipeline connecting the tripods to the onshore on·shore  
adj.
1. Moving or directed toward the shore: an onshore wind.

2. Located on the shore: an onshore beacon; an onshore patrol.

adv.
 production center are undergoing evaluation. It is expected that the contract for construction will be awarded in the next few weeks.

The "Prometheus" jackup rig, which was used to drill the Dogu Ayazli-2, is preparing to move to a new location approximately 2.5 kilometers (1.6 miles) to the east to drill the Bayhanli-1, an exploration well on a prospect located between the Dogu Ayazli and Akkaya discoveries.

In the Akkaya field, located approximately 6 kilometers (3.7 miles) to the east of the Dogu Ayazli wells, the Akkaya-3 development well is nearing total depth and results are expected within the next two weeks. After the "Saturn" jackup rig has completed testing the Akkaya-2 and -3 wells, it is anticipated that the first production tripod will be ready for installation over the Akkaya wells.

The Dogu Ayazli (or "East Ayazli") field is located in a broad, flat anticlinal anticlinal /an·ti·clin·al/ (-kli´n'l) sloping or inclined in opposite directions.

an·ti·cli·nal
adj.
Inclined in opposite directions, as two sides of a pyramid.
 structure located to the east of, and deeper than, the Ayazli structure along the same fault trend. The South Akcakoca Sub-basin represents approximately 50,000 acres out of the joint venture's 964,000 acre Western Black Sea permit area, or approximately 5% of the total area. Toreador is the operator in the South Akcakoca Sub-basin and has a 36.75% working interest in the permit. TPAO is the owner of a 51% working interest and Stratic has a 12.25% working interest.

In Toreador's 100% interest Fauresti field in Romania, the Fauresti-185 well was successfully re-entered and is being completed as a gas producer. In initial testing, the well flowed approximately 2.0 million cubic feet of gas per day (MMcfd) with 15 barrels of associated condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity.  through a 31/64" choke (jargon) choke - To fail to process input or, more generally, to fail at any endeavor.

E.g. "NULs make System V's "lpr(1)" choke." See barf, gag.
 at a flowing pressure of 500 pounds per square inch Noun 1. pounds per square inch - a unit of pressure
psi

pressure unit - a unit measuring force per unit area
. The well is the seventh to be re-entered in the company's Fauresti Field rehabilitation rehabilitation: see physical therapy.  project and the first of five re-entries planned for this year. The production facility in the Fauresti Field has been completed and tested, and a pipeline connecting the facility to the national gas distribution system is under construction and is expected to be completed in the next few weeks. Initial production is expected to be approximately 6 MMcfd of gas and associated condensate from the first four successful re-entry wells.

About Toreador

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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Toreador primarily owns working interests in five states. More information about Toreador may be found at the company's web site, www.toreador.net.

Safe-Harbor Statement -- Except for the historical information contained herein, the matters set forth in this news release are "forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
" within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend  
v. a·mend·ed, a·mend·ing, a·mends

v.tr.
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.

2.
, and Section 21E of the Securities Exchange Act of 1934, as amended. Toreador intends that all such statements be subject to the "safe-harbor" provisions of those Acts. Many important risks, factors and conditions may cause Toreador's actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates of reserves, estimates of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Toreador to obtain additional capital, and other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The historical results achieved by Toreador are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 6, 2006
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