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Toreador holds extensive acreage in oil-rich regions of Romania. The company is presently in various stages of exploration and development activities on three blocks where it is 100% owner and operator.
Fauresti Block. Toreador was granted a rehabilitation permit in 2003 on the 1,325-acre Fauresti Block, which offers development opportunities in the Jurassic Dogger formation at depths of approximately 8,000 feet. Since its discovery in 1970, the Fauresti Field has produced an aggregate of more than 7.6 million barrels of oil and 47 billion cubic feet of gas. Toreador is currently producing 1.7 MMcfd of natural gas and 20 barrels of condensate per day from three wells in the field.
Viperesti Block.In early 2003, Toreador initiated an exploration and development program in Romania with the government award of the Viperesti Block in exchange for a staged work commitment. The block, which spans 324,000 acres, is surrounded by and on trend with many sizable oil fields to the southwest and northeast. The block is prospective in the Miocene- and Oligocene-age formations at depths ranging from 2,000-16,000 feet. The company has identified over 10 prospects with unrisked potential ranging from 12 to 105 million barrels of oil equivalent.
Moinesti Block. Toreador holds an exploration permit on the Moinesti Block, also awarded in 2003. The block covers 450,000 gross acres (300,000 net acres). The acreage is contiguous with numerous producing oil fields on the block and is prospective in various producing formations from 3,000-16,000 feet.
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