Toreador Reports First-Quarter 2005 Results & Updates Operational Activities; Operating Income Increases by $1.8 Million vs. Year-Ago Quarter

Business Wire, May 12, 2005

Toreador is operator and owns a 100% working interest in the Charmottes, Neocomian and Courtenay permits.

Romania

Toreador has completed the re-entry of two of six wells in Phase I on its 1,325-acre Fauresti Block. The second well reentered, the Fauresti-184, flowed at a rate as high as 2.6 MMcf of gas per day during a preliminary testing period. Interpretation of down hole logs has indicated several intervals that will require further testing. Initial work has begun to tie into the regional gathering system. First sales of natural gas are expected to begin in the second half of 2005 after necessary government approvals are obtained. The company plans to initially produce the Fauresti-184 at a rate in excess of 1 MMcf per day.

Re-entry of the Fauresti-187, the third of six wells in Phase I, is currently underway. The first re-rentry, the Fauresti-179, is presently suspended until further testing is completed. The company anticipates re-entering three additional wells and drilling up to two new development wells on the permit this year.

Toreador also intends to re-enter a well on the Viperesti Permit and will continue to gather geological and geophysical information, as well as reprocess existing seismic data, on both the Viperesti and Moinesti Permits. Toreador is operator of and has a 100% working interest in these Romanian concessions.

United States

Toreador holds a 17% non-operated working interest in the Cowherd-1 well in Marion County, Texas. Initial testing of the lower Travis Peak formation was completed in April 2005 and indicated an economic natural-gas discovery. Perforations of additional zones will be made following the completion of a pipeline connection. Sales are expected to begin in the third quarter of 2005. Development drilling on the surrounding acreage is planned to begin in 2005.

CONFERENCE CALL

Toreador will host a conference call with a simultaneous slide show available via the Internet on Thursday, May 12 at 3 p.m. Central daylight time (4 p.m. Eastern daylight time) to discuss the previously mentioned first quarter 2005 financial results and current operations.

Active call participants who wish to ask questions during the conference call should dial toll-free 800-299-9630, passcode 27720438 about 15 minutes before the scheduled conference call time to be connected to the call. International callers should dial 617-786-2904, passcode 27720438.

Those who wish only to listen to the live audio webcast may access the webcast and accompanying slideshow via Toreador's Internet home page at www.toreador.net by selecting the "Investor Relations" link on the home page and then selecting the "Conference Calls" link.

Those unable to participate in the live call may hear a rebroadcast for up to twelve months after the conference call at www.toreador.net by selecting the "Investor Relations" link on the home page and then selecting the "Conference Calls" link or may dial toll-free 888-286-8010, passcode 95340140 to listen to a replay of the call. International callers should dial 617-801-6888, passcode 9530140.