Toreador to buy back up to $10 million 5% convertibles

By Julie A. Miller

Washington, July 9 - Toreador Resources Corp.'s board of directors authorized repurchase of up to $10 million of its 5% convertible senior notes due 2025 by the end of 2008.

Toreador also announced that its board has retained Merrill Lynch & Co. to assist in exploring strategic alternatives for the company.

The repurchases will be made in the open market or in privately negotiated transactions.

"We are taking these steps to enhance shareholder value," said Nigel Lovett, Toreador's president and CEO.

Toreador Resources is a Dallas-based independent international energy company engaged in the acquisition, development, exploration and production of natural gas, crude oil and other income-producing minerals.

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