Toreador is successfully implementing its new corporate strategy to create a unique, leading pan-European and Mediterranean exploration and production company.
Toreador intends to maintain an efficient base business, execute steady growth in its France assets, and deliver step-change expansion that includes a phased development of the Paris Basin Oil Shale. In addition, the Company will pursue corporate and assets-based transactions as they become available.
As part of its strategy, Toreador Resources has successfully completed the consolidation and relocation of its corporate office to Paris, France, reducing its U.S. presence to focus only on securities exchange requirements and investor relations. In addition, the Company has retained third-party consultants, including Gaffney, Cline & Associates, an international oil and gas sector advisory firm, to manage all future reserve verifications.