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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 6, 1995
TOREADOR ROYALTY CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 0-2517 75-0991164
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
530 PRESTON COMMONS WEST
8117 PRESTON ROAD
DALLAS, TEXAS 75225
(ADDRESS, INCLUDING ZIP CODE, OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (214) 369-0080
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Item 5. OTHER EVENTS.
On October 6, 1995, Toreador Royalty Corporation (the "Company")
announced that it had acquired an additional 11.5% working interest in the five
well Matador Field location in Motley County, Texas. Toreador previously held
a 25% working interest as well as a 15% royalty interest in this property.
Under the terms of the agreement, Toreador invested $207,600, adding an
estimated 42,400 net barrels to its reserves at an acquisition cost of $4.90
per barrel. The Matador Field is still under development with two additional
wells anticipated to be drilled before the close of 1995.
In a separate transaction, the Company announced on October 10, 1995
that its Board of Directors (the "Board") authorized the purchase of up to
100,000 shares of the Company's common stock, representing 1.9% of Toreador's
currently outstanding shares. Purchases will be made in open market or through
privately negotiated transactions from time to time and depending upon market
conditions.
The Company owns in excess of 530,000 net mineral acres located
primarily in the Texas Panhandle and West Texas. In addition, the Company owns
working or royalty interest in Texas, New Mexico, Oklahoma, Arkansas and
Louisiana. The Company's Common Stock is traded in the NASDAQ stock market
under the symbol "TRGL."
Item 7. FINANCIAL STATEMENTS IN EXHIBITS.
(c) Exhibits
Item Exhibit
99.1 Press Release issued by Toreador Royalty
Corporation on October 6, 1995.
99.2 Press Release issued by Toreador Royalty
Corporation on October 10, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TOREADOR ROYALTY CORPORATION
Date: October 12, 1995 By: /s/ Peter R. Vig
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Peter R. Vig, Chief Executive Officer
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INDEX TO EXHIBITS
Item
Number Exhibit
99.1 Press Release issued by Toreador Royalty Corporation
on October 6, 1995.
99.2 Press Release issued by Toreador Royalty Corporation
on October 10, 1995.
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EXHIBIT 99.1
October 6, 1995
TOREADOR ROYALTY ANNOUNCES ACQUISITION OF ADDITIONAL INTERESTS IN MATADOR FIELD
Toreador Royalty Corporation announced today that it had acquired an additional
11.5% working interest in the five well Matador Field located in Motley County,
Texas. Toreador already held a 25% working interest as well as a 15% royalty
interest in this property. This field is still under development with two
additional wells anticipated to be drilled before the close of 1995.
Toreador spent $207,600 in this transaction, adding an estimated 42,400 net
barrels to its reserves at an acquisition cost of $4.90 per barrel.
Toreador owns in excess of 530,000 net mineral acres located primarily in the
Texas Panhandle and West Texas. In addition, the Company owns working or
royalty interests in Texas, New Mexico, Oklahoma, Arkansas, and Louisiana.
Toreador's Common Stock is traded in the NASDAQ market under the symbol "TRGL."
Contact: Peter R. Vig, Chairman
214/369-0080
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EXHIBIT 99.2
DALLAS, Texas, October 10, 1995
TOREADOR ROYALTY ANNOUNCES SHARE REPURCHASE PLAN
Toreador Royalty Corporation announced today that its board of directors has
authorized the purchase of up to 100,000 shares of the company's common stock,
representing 1.9% of Toreador's currently outstanding shares.
Commenting on the announcement, Peter R. Vig, chairman, said "The board
believes that the company's shares are undervalued and, in taking this positive
action, has demonstrated its confidence in Toreador's outlook. The company has
a strong balance sheet, including sufficient funds for the share repurchase
plan as well as its current capital program, which includes an aggressive
exploration effort on its mineral acreage."
Purchases will be made in the open market or through privately negotiated
transactions from time to time and depending upon market conditions.
Toreador owns in excess of 530,000 net mineral acres located primarily in the
Texas Panhandle and West Texas. In addition, the company owns working or
royalty interests in Texas, New Mexico, Oklahoma, Arkansas, and Louisiana.
Toreador's common stock is traded in the NASDAQ market under the symbol "TRGL."
Contract: Peter R. Vig, chairman
James S. Blair, vice president
214/369-0080
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