FYI Toreador Provides Operations Update on the La Garenne Conventional
Exploration Well
Business Wire
PARIS -- January 19, 2010
Toreador Resources Corporation (NASDAQ:TRGL) today provided an operations
update on the La Garenne LGA-1D conventional exploration well, which is
located on the 100% Toreador-owned ‘Rigny le Ferron’ permit in the Paris Basin
in France.
Due to a delay in the arrival of the SMP N°2 rig owned by Société de
Maintenance Pétrolière (SMP), the completion and production testing of the
LGA-1D well is now expected to begin in the last week of January. As was
communicated previously, the LGA-1D well was drilled in the fourth quarter of
2009; results confirmed a 5-meter reservoir within a 50-meter oil column in
the target Dogger formation. Based on the Company’s continued evaluation of
the La Garenne LGA-1D well results, the Company believes that the well
confirms a porous and hydrocarbon-bearing reservoir with a localized
low-permeability area at the crest of the structure, which is a geologic
feature seen in other fields in the basin.
For clarity, the Dogger formation contains a conventional reservoir and is
unrelated to Toreador’s Paris Basin shale oil assets.
Toreador President and CEO Craig McKenzie commented, “Given the previous
results of the Flacy-1 and Flacy-2 wells drilled in the 1980s on the flank of
the reservoir, combined with the LGA-1D well results, we estimate that the
Dogger has at least 6 mmbo of oil in place; however, recoverable reserves
associated with this oil will be modeled and calculated as part of a
development plan for La Garenne, which management intends to submit later this
quarter for Toreador Board approval.”
carlos