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TOREADOR ROYALTY ANNOUNCES THIRD SUCCESSFUL WELL IN GETAWAY CANYON FIELD; ADDITIONAL EXPLORATION AND DEVELOPMENT PROJECTS

 TOREADOR ROYALTY ANNOUNCES THIRD SUCCESSFUL WELL IN GETAWAY CANYON
 FIELD; ADDITIONAL EXPLORATION AND DEVELOPMENT PROJECTS
 DALLAS, May 21 /PRNewswire/ -- Toreador Royalty (NASDAQ: TRGL) announced that the Hollis R. Sullivan "D" 12-3 Pitchfork-Toreador well located on the Pitchfork Ranch, Dickens County, Texas had logged approximately seven feet of net Tannehill pay and had been successfully drill stem tested. Based on discussions with the operator this well is expected to have an initial production rate of approximately 50 barrels of oil per day (BOPD) which, added to current production of some 200 BOPD, would bring total field production to approximately 250 BOPD. Toreador has a 9.6 percent royalty interest in these wells. Under the terms of the "D" Lease, the operator must drill a well each 120 days or surrender the balance of the acreage outside of the 120 acres currently held by production.
 The rig used to drill the "D" 12-3 well is now being moved to drill the Hollis R. Sullivan "C" No.4-1 Pitchfork-Toreador which is a Tannehill wildcat test located approximately two miles northwest of the Getaway Canyon field. Toreador will have a 12.5 percent working interest (10 percent net revenue interest) in this test in addition to its 9.5 percent royalty interest. Beyond this well, Sullivan has also indicated plans to drill a well on their "A" Lease, also on the Pitchfork Ranch, immediately south of and adjacent to production in the Getaway Canyon field.
 On the company's Proctor Ranch minerals in Hartley County, Texas, McKinney Operating and Corlena Oil Company are preparing to drill the fourth test in the Proctor Ranch (Wolfcamp) field. Toreador will have an 18.75 percent royalty interest in this well. The terms of this lease have recently been revised whereby the operator must drill a well every 120 days or surrender the balance of this 12,000 acre lease outside the producing units.
 In the Arkoma Basin, the company has been notified by Southwestern Energy Production Company of an application for polling for a proposed 3,400 foot Hunton test in Sequoyah County, Okla. Toreador holds approximately 55 acres in the well site section as well as 886 acres in four offsetting sections.
 Toreador owns in excess of 500,000 net mineral acres located primarily in the Texas Panhandle and Northwest Texas. In addition, the company owns working or royalty interests in Texas, New Mexico, Oklahoma, Arkansas and Louisiana.
 -0- 5/21/92
 /CONTACT: Peter R. Vig of Toreador Royalty, 214-220-2141/
 (TRGL) CO: Toreador Royalty ST: Texas IN: OIL SU:


LR -- NY056 -- 2802 05/21/92 11:55 EDT
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Publication:PR Newswire
Date:May 21, 1992
Words:431
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