Toreador Resources Corporation says that the previously disclosed negotiations with the winning bidder for the sale of a portion of its working interest in the South Akcakoca Sub-Basin project and surrounding Western Black Sea exploration acreage have ended.

The parties, including the three companies associated with the bidder, were unable to reach mutually acceptable terms. Toreador expects to pursue other options with regard to this particular asset.

On June 13, 2008 David M. Brewer resigned from the Toreador Board of Directors. Mr. Brewer has not indicated that his resignation is due to any disagreement relating to Toreador's operations, policies or procedures.

Tags: Toreador Resources Corporation