Product Design & Development

Toreador Resources sells Turkish assets for $10.6M

By The Associated Press
Wednesday, October 07, 2009
 Share
[-] Text [+]  
Loading...

Toreador Resources sells Turkish assets for $10.6M

WASHINGTON (AP) — French oil and natural gas company Toreador Resources Corp. on Wednesday closed a previously announced sale of its Turkish assets to a private Norwegian energy company.

The company sold Toreador Turkey Ltd. to Tiway Oil for $10.6 million plus exploration success payments of up to $40 million and contingent future net profit payments.

Toreador anticipates a third-quarter gain of $21.2 million from the sale of its Turkish asset.

Shares of Paris-based Toreador fell 30 cents, or 3.2 percent, to $9 in afternoon trading.

ADVERTISEMENT

JOIN THE DISCUSSION
Rate Article:  Average 0 out of 5
register or log in to comment on this article!

0 Comments

Add Comment

Text Only 2000 character limit

Page 1 of 1

At Issue

10 Years Ago, A Paradigm Shift Began
Dr. Ron L. Hollis, P.E., Quickparts.com
Foreign Corporations Find Trouble In N. American Markets
Jeff Klingberg, Fluid Power Technologies
Emergency Stopping
Professor MC, Motion Control Guru, PD&D

Quick Links

Site Sponsors


Most Viewed

Videos & Webcasts

XStreamHD: An HD Revolution 2/8/2010
XStreamHD gives in-home access of full HD entertainment.   Continue
Living With Robots 2/4/2010
Take a peek into Honda’s creation, ASIMO; a reflection of human’s technological evolutions.   Continue
Pick-And-Place Motion Control 2/4/2010
TECHNOSOFT Servo Drives offer extended flexibility and versatility resulting in easy-to-use solutions.   Continue