Toreador Resources Corporation

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Toreador Resources Corporation

• Enercom 2008 Oil and Gas Conference
• August 13, 2008

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Safe-Harbor Statement
Except for the historical information contained
herein, the matters set forth in this
presentation are forward-looking statements
within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as
amended. The company intends that all such
statements be subject to the safe-harbor
provisions of those acts. Many important risks,
factors and conditions may cause the companys
actual results to differ materially from those
discussed in any such forward-looking statement.
These risks include, but are not limited to,
estimates of reserves, estimates of production,
future commodity prices, exchange rates, interest
rates, geological and political risks, drilling
risks, product demand, transportation
restrictions, actual recoveries of insurance
proceeds, the ability of Toreador to obtain
additional capital, whether the transaction to
sell 26.75 of the South Akcakoca Sub-basin is
completed on the terms contemplated, and other
risks and uncertainties described in the
companys filings with the Securities and
Exchange Commission. The historical results
achieved by the company are not necessarily
indicative of its future prospects. The company
undertakes no obligation to publicly update or
revise any forward-looking statements, whether as
a result of new information, future events or
otherwise.
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Cautionary Note to Investors
The Securities and Exchange Commission (SEC)
permits oil and gas companies, in their filings
with the SEC, to disclose only proved reserves
that a company has demonstrated by actual
production or conclusive formation tests to be
economically and legally producible under
existing economic and operating conditions. We
use the term gas in place that the SECs
guidelines strictly prohibit us from including in
filings with the SEC and which is not an estimate
of reserves. Investors are urged to also consider
closely the disclosure in our filings with the
SEC, available from us by calling [phone].
You can also obtain our filings from the SEC at
www.sec.gov or on our website at
www.toreador.net.
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Areas of Operation
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Company Strategy

• Focus on EU or EU-candidate countries
• Emphasis on geopolitical balance and risk
  diversification
• Net importers with strong projected demand for
  oil and natural gas and a strong dependence on
  Russian supplies of hydrocarbons
• Energy security is a critical issue for the whole
  of Europe
• Stable governments with favorable business and
  regulatory climates
• Attractive royalty and tax environments
• Western, market-oriented economies
• No upfront fees large acreage concessions
  secured by multi-year work commitments
• Existing energy production and transportation
  infrastructures

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A Company in Transformation
Goals
Actions

• Lower overall risk profile of company
• Sell down higher risk assets
• De-lever balance sheet
• Stop sole-risk exploration

• Agreement to sell majority of our Western Black
  Sea Play
• Cash proceeds to be used to reduce debt
• Farm-out of exploration program
• 10 partners
• Over 40 million attracted in commitments
• 8 wells and 3 seismic programs to date

• Strategic shift towards higher potential plays

• Two major plays, multiple smaller plays to be
  tested through 2009

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A Company in Transformation
Goals
Actions

• Limit CAPEX to annual net cash flow

• 2008 net cash flow budgeted to materially exceed
  2008 CAPEX

• Cut corporate GA expense and empower European
  offices

• Corporate head count recently cut by 33 or
  approximately 2.5 million savings annually
• Exploration responsibilities shifted to European
  offices

• Change management compensation to more closely
  align with shareholders interests

• Compensation changed from cash and perks with
  little equity to less cash, no perks, and a lot
  more equity

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Western Black Sea Divestiture

• Letter of intent to sell 26.75 of our 36.75
  working interest for gross proceeds of 80.25
  million
• Closing expected early in the fourth quarter
• Material reduction in risk for a challenging
  project with cost overruns, weather delays,
  production problems, operational issues and
  future potential deep water development
• Gross sale value represents
• Loss on investment of 54 million
• A value per BOE of proved reserves of 55.28
  2.8x standardized measure per BOE of all our
  reserves at year end 2007
• A multiple of over 4x annualized first half 2008
  revenues of divested asset
• Net proceeds will be primarily used to reduce
  aggregate leverage of 116 million

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France Paris Basin Offers Solid Production,
Exploration Upside

• Operator of five fields
• Seven active exploration licenses
• Three permit applications expected to be granted
  in fourth quarter approx. 317,000 acres total
• Provides stable financial underpinning for
  Toreador

Paris
Chateau Thierry
Mairy
Leudon
Nogent-sur-Seine
Charmottes Field
Rigney-le-Ferron
Malsherbes
Nemours
Aufferville
Joigny
Neocomian Fields
Courtenay
Proved Reserves
Annual Production
Bbl, Thousands
Bbl, Millions
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Hungary Exploration Joint Ventures

• Two active joint ventures, one in Szolnok Block
  and one in Tompa Block
• Current Szolnok Block joint venture for two new
  new wells and 3D seismic Toreador contributes
  tubulars for wells and is carried for seismic,
  retaining 15 working interest
• Tompa joint venture to test high potential
  unconventional deep gas play

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Tompa Block HP/HT Play Joint Venture in
Kiskunhalas Trough
Depth Map to Pre-Tertiary

• Joint venture partner to fund up to 16 million
  for drilling and testing first well below 3,200
  m. depth
• Proposed well up-dip of two 1980s wells that
  tested gas
• Toreador is carried for first well and testing
  retains 25 working interest

Well Location
Permit Applications
Kiskunhalas Trough
Tompa Block
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Tompa Block HP/HT Play Joint Venture in
Kiskunhalas Trough
Kiskunhalas Trough Cross Section

• Approximately 1,800 meter section of
  overpressured sands, shales and conglomerates
  below 1,400 meter shale cap
• First well to test upper zones to limit surface
  pressures to 10,000 psi regime
• Three zones to be tested and stimulated over
  extended testing period
• Pre-drill estimate of 244 Bcf gas in place

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Turkey Prospective Offshore/Onshore Acreage
Thrace Black Sea Permits
Western Black Sea Permits
Central Black Sea Permits
Eastern Black Sea Permits
Sea of Marmara Permits
Van Permit
Cendere Field
Adiyaman Permit
Bakuk Permit

• Six active joint ventures
• Gas production from South Akcakoca Sub-basin
  project in Western Black Sea permits (10 working
  interest post sale of 26.75 interest)
• Oil production from Cendere Field in southeast
  Turkey (19.6 non-operated working interest,
  approximately 65.7 MBbls. produced annually)
• Exploration joint ventures in Thrace Black Sea,
  Central Black Sea, Sea of Marmara, and Bakuk
  permits

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Gas Contract in Turkey
BOTAS Posted Natural Gas Prices (1) and SASB
Wellhead Price
/MCF
BOTAS Guaranteed
Wellhead Price
Source BOTAS website, www.botas.gov.tr/eng/natura
lgas/ng_tariffs.asp
(1) Monthly posted prices for industrial users,
converted from YTL/CM to /MCF

• Three years, based on BOTAS guaranteed industrial
  tariff, paid in Turkish Lira, adjusted monthly
• Wellhead price approximately 91 of reference
  price
• 7.5 discount includes transportation cost
• Approximately 1.5 discount for gas calorific
  adjustment
• August BOTAS guaranteed price of approximately
  14.76 per Mcf translates to wellhead price of
  13.66 per Mcf

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Romania

• Joint venture in Moinesti Permit a re-entry and
  two new wells or three new wells in return for
  70 interest
• Toreador carried for 30 interest
• Gas and natural gas liquids production in
  Fauresti rehabilitation project

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Toreador Resources Corporation