Toreador Reports Second-Quarter 2005 Results & Updates Operational Activities

-- Record operating income, up 35% from the same period in 2004

-- Record revenues of $7.2 million, up over 40% from second quarter 2004 results

-- Record discretionary cash provided by operating income (a non-GAAP measure reconciled below) of $3.1 million, a 29% increase from the same period in 2004

For the second quarter of 2005, Toreador reported incomeapplicable to common shares of $1.8 million, or $0.12 per dilutedshare, compared with $1.2 million, or earnings per diluted share of$0.11, for the second quarter of 2004. Operating income was $1.7million in the second quarter of 2005, up 35% from $1.3 million forthe same period in 2004. Second quarter 2005 revenues were $7.2million, which represent a 40% increase when compared with $5.1million for the second quarter of 2004. The increase was primarily dueto higher realized oil and natural gas prices. Toreador'sdiscretionary cash provided by operating income (a non-GAAP measurereconciled below) grew to $3.1 million, which was a 29% increase fromthe same period in 2004.

Second quarter 2005 lease operating expenses were $2.1 millioncompared to $1.5 million in the second quarter of 2004. Leaseoperating expenses were higher in the second quarter primarily as aresult of renovation work completed at the company's Neocomian fieldcomplex in France. General and administrative costs for the secondquarter of $1.9 million were up 56% from $1.2 million during thesecond quarter of 2004. This increase was due in part to additionalpersonnel required to support Toreador's responsibilities as operatorof our Western Black Sea program in Turkey. Accounting and legal costswere up significantly as the company recognized additional costsrelated to annual reporting for 2004 as it implemented new proceduresfor Sarbanes-Oxley compliance.

"While the second quarter of 2005 produced record operatingperformance," said G. Thomas Graves III, President and Chief ExecutiveOfficer of Toreador, "at the present time, we expect to reportimproved results in the third quarter. Oil production in France hasincreased by approximately 600 barrels per day from our Charmottesfield beginning early in the third quarter. In addition, commodityprices are currently well above the average prices received during thesecond quarter." In the second quarter of 2005, Toreador's oil and gasproduction was 154,000 barrels of oil equivalent (BOE) compared to155,000 BOE in the year-ago quarter.

Toreador's average realized oil price in the second quarter of2005 climbed to $47.31 per barrel from $32.03 per barrel in theyear-ago quarter. This represents a 48% increase over the same periodlast year. The average realized gas price in the second quarter of2005 was $6.69 per thousand cubic feet (Mcf), a 16% increase over theaverage realized gas price of $5.78 per Mcf in the second quarter of2004.

SIX-MONTH RESULTS

Toreador reports its six-month 2005 income applicable to commonshares was $2.8 million, or earnings per diluted share of $0.20,compared with income applicable to common shares of $23.0 million, orearnings per diluted share of $1.95, for the first six months of 2004.The six-month 2004 earnings per diluted share of $1.95 included a gainon the sale of the company's U.S. mineral and royalty portfolio of $18million along with a foreign currency exchange gain of $4.9 million.

For the first six months of 2005, Toreador posted operating incomeof $2.9 million versus operating income of $627,000 for the year-agoperiod. Six-month 2005 revenues were $13.6 million, compared withsix-month 2004 revenues of $9.0 million.

For the first six months of 2005, Toreador's oil and gasproduction was 303,000 BOE compared to 300,000 BOE for the year-agoperiod. Toreador's average realized oil price for the first six monthsof 2005 rose 48% to $45.42 per barrel from $30.74 per barrel for theyear-ago period. The average realized gas price for the first sixmonths of 2005 was $6.44 per Mcf versus $5.77 per Mcf for the sameperiod a year ago.

Explanation and Reconciliation of Non-GAAP Financial Measures

Discretionary cash provided by operating income is presentedbecause of its acceptance as an indicator of an oil and gasexploration and production company's ability to internally fundexploration and development activities and to service or incuradditional debt. Discretionary cash provided by operating incomeshould not be considered in isolation or as a substitute for operatingincome prepared in accordance with generally accepted accountingprinciples. The table below reconciles discretionary cash provided byoperating income with operating income as derived from the company'sfinancial information.
In thousands
Three Months Six Months
Ended Ended
June 30 June 30
--------------- ---------------
2005 2004 2005 2004
------- ------- ------- -------

Discretionary cash provided by
operating income $3,069 $2,376 $5,559 $2,793

Deduct:
Exploration and acquisition (431) (324) (805) (552)
Depreciation, depletion, and
amortization (950) (798) (1,867) (1,614)
------- ------- ------- -------
Operating income $1,688 $1,254 $2,887 $627
======= ======= ======= =======

OPERATIONS

Turkey -- Offshore

Drilling and logging operations on the Ayazli #2 well in thecompany's South Akcakoca Sub-Basin project ("SASB") were successfullycompleted on July 29, 24 days after spudding. The well was drilled toa measured depth of 1213 meters. Toreador and its partners, TPAO andStratic Energy Corporation, have run casing and are now makingpreparations to commence testing operations on the Ayazli #2 well.

During drilling of the Ayazli #2, gas shows were recorded on themud log over multiple intervals between 725 meters and 1175 meters.Electric logs indicate the presence of gas in potentially 6 intervalsbetween 725 meters and 1175 meters. Toreador has identifiedapproximately 64 meters of potential gas producing sands in the well.This analysis is based solely on information derived from the mud andelectric logs.

For reference, the Ayazli #1 well tested approximately 16 metersof gas pay in three zones at an aggregate rate of 15 million cubicfeet of gas per day.

The Ayazli #2 well was directionally drilled to a bottom-holelocation approximately 380 meters southwest of the Ayazli #1 well.Following the completion of testing on the Ayazli #2 well, the Ayazli#3 well will be tested. This procedure should be completed bymid-August. Drilling of the Ayazli #3 well was completed on June 30,2005.

Following the completion of testing of the Ayazli #2 and #3 wells,the jack-up rig Prometheus will move to the Cayagzi #1 location. TheCayagzi #1 well, the fourth of eight wells planned for 2005, will be avertical well drilled to a planned total depth of 1100m. Cayagzi #1 islocated 3.1 kilometers (1.93 miles) south southeast of the Akkaya #1well where Toreador tested at a rate of 7.6 million cubic feet of gasper day in May of this year.

Toreador is also negotiating a contract for a second rig, mostlikely a semi-submersible, capable of drilling in the Akcakocaformations where water depths of slightly more than 300 feet arebeyond the capabilities of the available jackup rig.

The Turkish lift barge and supporting spread now deployed in theSASB is being replaced by equipment capable of operating in rough seasand marginal weather conditions. The existing spread was logging asmuch as 50% down time due to weather and after delays and weatherrelated incidents incurred during the installation of the firstGuardian II production sleeve at the Akkaya #1 location the decisionwas made to mobilize a larger capacity, all-weather lift barge that israted to withstand similar weather conditions in the future and thatcan be used to lay the offshore pipeline. The new barge is currentlymoving from Italy to the Ayazli location to begin installation of theproduction sleeve following the testing of the Ayazli #2 & 3 wells.After installation the new barge will move back to the Akkaya #1 forremedial operations related to the caisson and production sleeve. Theoperational changes are not expected to cause any delay in achievingfirst production in the second half of 2006. Toreador is operator andholds a 36.75% working interest in this acreage.

Toreador is in the process of gathering geological and geophysicaldata in its 844,000-acre Thrace Black Sea permit. A 50% interest wasfarmed out to HEMA Endustri A.S. ("HEMA") in June, the terms of whichcall for HEMA to pay 100% of the first $1.5 million of thegeophysical and exploration costs on this acreage. Toreador isoperator and will own the remaining 50% working interest in thispermit.

Turkey -- Onshore

In the onshore Sinop area northeast of Ankara on the Black Seacoast, Toreador is evaluating reprocessed seismic in order todetermine if and where a well might be drilled. An attempt to re-enterand establish production from the Boyabat-2 well in June 2005 wasunsuccessful. Toreador operates and holds a 100% working interest insix Sinop permits which cover approximately 720,000 acres.

The Calgan permit area continues to be evaluated. Followingcompletion of evaluation Toreador is planning to commence drillingoperations by the end of the third quarter 2005.

France

In the Charmottes Field in the Paris Basin, Toreador has completedtesting on the Charmottes-108H and 110H horizontal wells. The 108Hwell has been equipped for production pumping at regulated rates. The110H well tested at 630 BOPD on a 1-inch choke. Production began inlate July at a restricted rate while the formation was being clearedof drilling fluids. Once free of excess fluids the wells will beproduced at a maximum combined 600 BOPD rate until they are connectedto Toreador's recently expanded permanent production facilities, whichwill occur after receiving French regulatory approval. Toreadorexpects unrestricted production to commence prior to the end of 2005.

Construction is underway on a drilling pad located on thesoutheast flank of the Charmottes field that will accommodate sixwells. Initially, Toreador intends to drill at least one vertical wellfrom the pad in the second half of 2005 to exploit reserves nowclassified as "probable" in the Triassic-age Donnmarie formation. Thecompany plans to drill two new horizontal wells from the pad in late2005 or early 2006.

During the second half of 2005, Toreador is slated to drill atleast four exploratory wells on its 183,000-acre Courtenay permit. Thecompany has completed a surface geochemical study that has providedsupplemental geophysical and subsurface data enabling Toreador toidentify four well locations. Toreador estimates the cost of eachCourtenay well will be $250,000 - 300,000. The initial objective onthe Courtenay permit will be the Neocomian formation that produces inthe company's four field Neocomian Field Complex. These four fieldshave cumulatively produced over 30 million barrels of oil and are thelongest sustained production in the Paris Basin. At a depth ofapproximately 1,800 to 2,000 feet, initial Neocomian production rangesfrom 150-200 BOPD.

Toreador is operator and owns a 100% working interest in theCharmottes, Neocomian and Courtenay permits.

Romania

The Company completed testing the third well re-entered in Phase Iof rehabilitation operations on the Fauresti Block during June. TheFauresti-187 tested at 1.3 MMcf per day with 11 barrels of condensateand 33 barrels of water on a 1/2-inch choke. The second wellre-entered and re-completed, the Fauresti-184, tested at 1.75 MMcf ofgas per day with 10 barrels of condensate and 59 barrels of water on a1/2-inch choke. During preliminary testing, the Fauresti-184 had flowrates as high as 2.6 MMcf per day with no choke.

The rig is currently on the Fauresti-179, the first wellre-entered during Phase I. The Fauresti-179 was unable to test theDogger Formation successfully due to communication with the underlyingaquifer behind casing. Operations are now underway to perforate theSarmatian Formation before moving the rig to the Fauresti-198 for thefourth well re-entry.

The company anticipates re-entering three additional wells anddrilling up to two new development wells on the permit this year.

Toreador also intends to re-enter a well on the Viperesti Permitand will continue to gather geological and geophysical information, aswell as reprocess existing seismic data, on both the Viperesti andMoinesti Permits. Toreador is operator of and has a 100% workinginterest in these Romanian concessions.

CONFERENCE CALL

Toreador will host a conference call on Thursday, August 4 at 3p.m. Central daylight time (4 p.m. Eastern daylight time) to discussthe previously mentioned second quarter 2005 financial results andoperational activities.

Active call participants who wish to ask questions during theconference call should dial toll-free 866-272-9941, passcode 88433672about 15 minutes before the scheduled conference call time to beconnected to the call. International callers should dial 617-213-8895,passcode 88433672.

Those who wish only to listen to the live audio webcast may accessthe webcast via Toreador's Internet home page at www.toreador.net byselecting the "Investor Relations" link on the home page and thenselecting the "Conference Calls" link.

Those unable to participate in the live call may hear arebroadcast for up to twelve months after the conference call atwww.toreador.net by selecting the "Investor Relations" link on thehome page and then selecting the "Conference Calls" link or may dialtoll-free 888-286-8010, passcode 18519191 to listen to a replay of thecall. International callers should dial 617-801-6888, passcode18519191.

GUIDANCE

Future guidance will be limited to operating results exclusivelydue to the numerous non-operating uncertainties relating to currencyfluctuations and dry-hole costs. The following guidance is beingprovided for the third quarter of 2005:
Production 170 - 190 Mboe
Realized price $48 - 54 per Boe
Revenues $8.3 - 10.3 million
Operating income $3.5 - 5.8 million

ABOUT TOREADOR

Toreador Resources Corporation is an independent internationalenergy company engaged in the acquisition, development, explorationand production of natural gas, crude oil and other income-producingminerals. The company holds interests in developed and undeveloped oiland gas properties in France, Hungary, Romania, Turkey and Trinidad.In the United States, Toreador primarily owns working interests infive states. More information about Toreador may be found at thecompany's web site, www.toreador.net.

Safe-Harbor Statement -- Except for the historical informationcontained herein, the matters set forth in this news release are"forward-looking statements" within the meaning of Section 27A of theSecurities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended. The company intends that all suchstatements be subject to the "safe-harbor" provisions of those Acts.Many important risks, factors and conditions may cause the company'sactual results to differ materially from those discussed in any suchforward-looking statement. These risks include, but are not limitedto, estimates or forecasts of reserves, estimates or forecasts ofproduction, future commodity prices, exchange rates, interest rates,geological and political risks, drilling risks, product demand,transportation restrictions, the ability of Toreador to obtainadditional capital, and other risks and uncertainties described in thecompany's filings with the Securities and Exchange Commission. Thehistorical results achieved by the company are not necessarilyindicative of its future prospects. The company undertakes noobligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise.
TOREADOR RESOURCES CORPORATION
(in thousands, except per share amounts)

Three Months Ended Six Months Ended
June 30 June 30
------------------ -----------------
SELECTED FINANCIAL RESULTS 2005 2004 2005 2004
--------- -------- -------- --------

Revenues $7,164 $5,134 $13,578 $8,996

Costs and expenses:
Lease operating 2,140 1,509 4,260 3,433
Exploration and acquisition 431 324 805 552
Depreciation, depletion, and
amortization 950 798 1,867 1,614
Reduction in force 5 0 5 118
General and administrative 1,950 1,249 3,754 2,652
--------- -------- -------- --------
Total costs and expenses 5,476 3,880 10,691 8,369
--------- -------- -------- --------
Operating income 1,688 1,254 2,887 627
Net income 1,865 1,335 3,428 23,321
Dividends on preferred shares 40 180 603 360
--------- -------- -------- --------
Income applicable to
common shares $1,825 $1,155 $2,825 $22,961
========= ======== ======== ========

Basic earnings per share $0.13 $0.12 $0.21 $2.43
========= ======== ======== ========
Diluted earnings per share $0.12 $0.11 $0.20 $1.95
========= ======== ======== ========

Weighted average shares
outstanding:
Basic 14,171 9,479 13,490 9,457
Diluted 15,610 12,314 14,565 11,973

SELECTED OPERATING RESULTS
Oil production (MBbl) 131 134 259 256
Natural gas production (MMcf) 136 127 261 267
Equivalent production (MBOE) 154 155 303 300

Prices
Average oil price per Bbl $47.31 $32.03 $45.42 $30.74
Average natural gas price per
Mcf 6.69 5.78 6.44 5.77
Average equivalent price per
BOE 46.26 32.33 44.45 31.26

June 30
------------------
2005 2004
--------- --------
SELECTED BALANCE SHEET
INFORMATION
Current assets $20,065 $14,014
Properties and equipment, net 105,920 66,094
Total assets 131,866 84,277
Current liabilities 13,668 13,484
Total liabilities 27,799 27,685
Stockholders' equity 104,067 56,592