TOREADOR RESOURCES CORP

TOREADOR RESOURCES CORP terminated the registration of a class of securities, ending its reporting obligation for them.

listing compliance notice

TOREADOR RESOURCES CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

With IRS and tax-opinion conditions cleared, the ZaZa Energy merger closed days later - ending Toreador's run as an independent public company after more than a decade of Turkey, France and Hungary exploration.

business combination

Toreador agreed to merge with privately held ZaZa Energy, LLC to form a new jointly owned public company, ZaZa Energy Corporation, with Toreador shareholders converting their shares 1-for-1 into the new entity.

business combination

Toreador and Hess prepared to spud the first wells of a Paris Basin shale-oil "proof of concept" program, targeting the Liassic play in the first half of 2011.

production update

Toreador struck a major deal with Hess Corporation: Hess would pay $15 million upfront and could invest up to $120 million for a 50% stake in Toreador's Paris Basin shale-oil permits, with up to $130 million of success fees to Toreador - its next big bet after Turkey.

asset acquisition disposition

Toreador raised roughly $29 million selling 3.45 million shares at $8.50 through RBC Capital Markets and Thomas Weisel Partners, largely to fund the debt exchange.

material agreement

Toreador exchanged $22.2 million of its 2005 convertible notes for $31.6 million of new, higher-rate (8%/7%) convertible notes plus $9.4 million cash to noteholders - an expensive restructuring that increased face debt to push out the obligation.

capital raising announcement

The sale of Toreador Turkey Ltd to Tiway Oil closed for $10.6 million cash plus up to $40 million of future success payments, booking a $21.2 million gain and ending Toreador's Turkey chapter - the country where its whole growth story had played out.

asset acquisition disposition

Toreador agreed to sell its Hungary subsidiary to Austria's RAG for about $5.4 million plus contingent payments, and separately agreed to sell its remaining Turkey entity (Toreador Turkey Ltd) to Tiway Oil - exiting both countries.

asset acquisition disposition

The reduced $55 million Petrol Ofisi sale closed; Toreador used the proceeds to fully repay its IFC loan ($30 million principal plus $5.9 million in fees).

asset acquisition disposition

TOREADOR RESOURCES CORP deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

As the financial crisis hit, Toreador renegotiated the Petrol Ofisi sale price down from $80.25 million to $55 million for the same 26.75% South Akcakoca interest.

material agreement

Toreador's board redeemed its 2008 shareholder-rights ("poison pill") plan as part of a settlement with activist investor Nanes Balkany Partners, which had been pushing for governance changes.

security holder rights change

Toreador signed the definitive agreement to sell the 26.75% South Akcakoca interest to Petrol Ofisi for $80.25 million.

material agreement

Toreador agreed in principle to sell a 26.75% interest in its South Akcakoca gas project to Turkish fuel distributor Petrol Ofisi for $80.25 million, monetizing part of its Turkey discovery while retaining a 10% stake.

material agreement

The Bati Eskikale-1 well discovered gas and flow-tested at 8.8 million cubic feet per day, the 14th successful well extending the South Akcakoca gas trend.

production update

Reserve estimates for the South Akcakoca Sub-basin gas project rose to 136 billion cubic feet with a further 692 Bcf of exploration potential identified, confirming the Turkey discovery as a major asset.

production update

Production began from the Dogu Ayazli platform in the South Akcakoca gas project, and Toreador approved a roughly $120 million second-phase development budget - even as a separate Thrace Basin exploration well came up dry and was plugged and abandoned.

production update

Toreador agreed to sell its last remaining US oil and gas properties to RTF Realty for $19.1 million, completing its exit from the domestic business it started with; RTF's advisors on the deal were Toreador's own former CEO and CFO.

material agreement

Toreador agreed to raise $45 million selling 2.7 million shares at a discounted $16.60 to six institutional investors, plus warrants for another 489,000 shares.

capital raising announcement

Toreador and its Turkey, Romania, France and Hungary subsidiaries entered a major new loan facility with the International Finance Corporation (World Bank Group), diversifying its lender base beyond its French and US bank facilities.

security holder rights change

Amid the ongoing restatement, Toreador reported a major appraisal success: the Akcakoca-3 well flow-tested at 18 million cubic feet of gas per day from one zone in the Black Sea, with a Hungary re-entry well and a Romania well also progressing - the South Akcakoca gas play was proving out even as the accounting picture worsened.

debt financing

Toreador pushed back the filing of its restated financials to January 11, 2007 - the same date set for its Nasdaq delisting hearing.

listing compliance notice

The restatement widened further still, now also covering fiscal 2003 and 2004 financial statements.

financial restatement

Nasdaq issued a deficiency letter over Toreador's late third-quarter 10-Q, driven by the ongoing restatement; the company requested a hearing to avoid delisting.

listing compliance notice

The restatement widened to cover all of fiscal 2005 plus the first two quarters of 2006, including reclassifying Black Sea drilling costs - a deepening accounting problem.

financial restatement

Even as it reported strong second-quarter results and on-track reserves for its new South Akcakoca gas discovery, Toreador disclosed it would restate first-quarter 2006 financials to reverse a $1.5 million loss-contingency charge and capitalize interest tied to its Turkey development program.

financial restatement

Toreador issued $75 million of 5.00% Convertible Senior Notes due 2025, with a 30-day option for buyers to take an additional $11.25 million - a major capital raise to fund its international growth.

capital raising announcement

Toreador raised about $25 million selling 806,450 shares to institutional investors at $31 per share.

capital raising announcement

The Pogo Hungary acquisition closed for $9 million, giving Toreador roughly 764,000 acres of exploration permits and a partially delineated gas field in Hungary.

asset acquisition disposition

Toreador agreed to buy Pogo Hungary Oil and Gas Exploration from Pogo Overseas Production, its first move into Hungary.

material agreement

Toreador raised roughly $32 million in an underwritten public stock offering with Morgan Keegan at $22.85 per share, its first major equity raise since the Madison Oil merger.

material agreement

Toreador's French subsidiary lined up a $15 million revolving credit facility with French bank Natexis Banques Populaires, pending French government approval, to fund hydrocarbon field development.

debt financing

Toreador spudded the Ayazli-1 exploratory well offshore Turkey - the opening well of what would become its South Akcakoca Sub-basin gas play, the company's defining project for the rest of the decade.

drilling progress report

Toreador farmed out part of its Black Sea (Turkey) acreage to Stratic Energy Corporation, bringing in a new exploration partner ahead of drilling.

drilling progress report

Toreador sold its US mineral and royalty assets to Black Stone Acquisitions Partners for $45 million cash, funding its pivot away from domestic production toward international exploration.

asset acquisition disposition

The Toreador-Madison Oil merger closed: Madison shareholders received 3.1 million Toreador shares, and Madison's Turkey, France and Romania exploration assets became the core of Toreador's business going forward.

business combination

Toreador agreed to merge with Madison Oil Company, creating a combined international E&P company worth roughly $100 million with proved reserves of 15.3 million barrels of oil equivalent - Toreador's first move into Turkey, France and Romania.

business combination

Toreador's acquisition subsidiary merged with Texona Petroleum, issuing 1.1 million Toreador shares for Texona's interests in nearly 1,000 wells across 12 states.

asset acquisition disposition

TOREADOR RESOURCES CORP deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice