Toreador Third Quarter 2006 Earnings Double from Same Period Last Year

Business Wire, Nov 9, 2006

Construction of the access road and drilling pad for the Lapos prospect exploration well is underway. As previously disclosed, the Lapos-2 will be drilled after the Naeni wells and will evaluate a plunging anticline with estimated unrisked potential reserves of 6 to 40 MMBOE.

Hungarian exploration update

In Toreador's Tompa block in southern Hungary, the Ba-K-1 exploration well did not encounter any commercial hydrocarbons and was plugged. Re-entry operations have begun on the Kiha-15 which as previously disclosed was drilled by MOL, the Hungarian state oil company, in 1988 and tested gas in a Miocene sand. Toreador plans to re-complete the well and establish gas production in Hungary.

Production Guidance for Full Year 2006 Revised

Toreador is revising its production guidance for the full year 2006 to approximately 750 thousand barrels of oil equivalent from its previous estimate of one million barrels of oil equivalent, due to delays in the timing of initial gas production in Romania and Turkey from earlier estimates.

Conference Call

A conference call to discuss third quarter 2006 results and operational activities will be held today at 10:00 am Central, 11:00 am Eastern, to discuss third quarter results and current operations.

Active participants who wish to ask questions during the conference call should dial toll free 800-901-5226 (international dial 1-617-786-4513), passcode 71303234 approximately 10 minutes before the scheduled call time to access the call.

Those who wish only to listen to the live audio webcast may access the webcast 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 (international dial 1-617-801-6888), passcode 33689614 to listen to a replay of the call. Phone replays will be available for 14 days after the call.

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, Toreador primarily owns working interests in five states. More information about Toreador may be found at the company's web site, www.toreador.net.

(a) Explanation and Reconciliation of Non-GAAP Financial Measures

Earnings before interest, taxes, depreciation, amortization and exploration expense (EBITDAX) is a non-GAAP measure presented because of its acceptance as an indicator of an oil and gas exploration and production company's ability to internally fund exploration and development activities and to service or incur additional debt. EBITDAX should not be considered in isolation or as a substitute for operating income prepared in accordance with generally accepted accounting principles. Table 1 below reconciles EBITDAX with income from continuing operations as derived from the company's financial information.