TOREADOR ROYALTY CORP
3, 1998-10-05
CRUDE PETROLEUM & NATURAL GAS
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                                                    ---------------------------
                                                            OMB APPROVAL       
                                                    ---------------------------
- --------                                            OMB Number:  3235-0104  
 FORM 3                                             Expires: September 30, 1998
- --------                                            Estimated average burden 
                                                    hours per response .... 0.5
                                                    ---------------------------

               UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

   Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
      Section 17(a) of the Public Utility Holding Company Act of 1935 or
             Section 30(f) of the Investment Company Act of 1940

<TABLE>
<S>                                        <C>                           <C>                                 <C>                 
- -----------------------------------------------------------------------------------------------------------------------------------
 1. Name and Address of Reporting Person   2. Date of Event Requiring    4. Issuer Name and Ticker or        6. If Amendment, Date 
                                              Statement                     Trading Symbol                      of Original
    WILCO PROPERTIES, INC.                    (Month/Day/Year)              TOREADOR ROYALTY CORPORATION        (Month/Day/Year)
                                               09/23/98                     (NASDAQ: TRGL)
- ----------------------------------------                                 ------------------------------------    N/A
     (Last)     (First)     (Middle)                                     5. Relationship of Reporting        -----------------------
4809 COLE AVENUE SUITE 107                 ----------------------------      Person to Issuer                7. Individual or Joint/
- ----------------------------------------   3. I R S or Social Security     (Check all applicable)               Group Filing (Check
             (Street)                         Number of Reporting              Director    X  10% Owner         Applicable Line)   
                                              Person (Voluntary)         -----           -----                   X  Form filed by 
     DALLAS         TX         75205                                           Officer        Other (specify    --- One Reporting
- --------------------------------------                                   -----           -----      below)          Person    
      (City)      (State)      (Zip)       ----------------------------  (give title below)                         Form filed by 
                                                                                                                --- More than One 
                                                                         ------------------------------             Reporting Person
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            TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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 1. Title of Security                         2. Amount of Securities         3. Ownership Form:         4. Nature of Indirect     
    (Instr. 4)                                   Beneficially Owned              Direct (D) or              Beneficial    
                                                 (Instr. 4)                      Indirect (I)               Ownership (Instr. 5)
                                                                                 (Instr. 5)                 
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  COMMON STOCK                                    45,100                          D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).                                    SEC 1473 (7-96)
                                                                                                                     
</TABLE>




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<TABLE>
<CAPTION>
 
FORM 3 (CONTINUED)               Table II -- Derivative Securities Beneficially Owned
                            (e.g., puts, calls, warrants, options, convertible securities)
 
<S>                              <C>                <C>                            <C>           <C>         <C>        
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security  2. Date            3. Title and Amount of         4. Conver-    5. Owner-   6. Nature of Indirect
   (Instr. 4)                       Exercisable and    Securities Underlying          sion or       ship        Beneficial Ownership
                                    Expiration Date    Derivative Security            Exercise      Form of     (Instr. 5)          
                                    (Month/Day/        (Instr. 4)                     Price of      Deriv-                         
                                    Year)                                             Deri-         ative                          
                                                                                      vative        Security:                      
                                                                                      Security      Direct                         
                                 -------------------------------------------------                  (D) or                         
                                 Date      Expira-                       Amount or                  Indirect (I)  
                                 Exercis-  tion             Title        Number                     (Instr. 5)             
                                 able      Date                          of Shares                                                 
                                                                                                                                   
- ------------------------------------------------------------------------------------------------------------------------------------
   NONE                          N/A        N/A             N/A            N/A          N/A           N/A           N/A
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Explanation of Responses:
 
N/A

                                                                                     WILCO PROPERTIES, INC.
                                                                                     /s/ G. THOMAS GRAVES III             10/5/98
**Intentional misstatements or omissions of facts constitute Federal Criminal        -------------------------------   -------------
  Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                             **Signature of Reporting Person        Date
                                                                                     By:  G. THOMAS GRAVES III
                                                                                          President


Note. File three copies of this Form, one of which must be manually signed.                                           Page 2     
  If space provided is insufficient, see instruction 6 for procedure.                                             SEC 1473 (7-97)
                                                                                                                                 
</TABLE>

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