Toreador Resources to consider strategic alternatives

By Lisa Kerner

Charlotte, N.C., July 9 - Toreador Resources Corp. said its board of directors retained Merrill Lynch & Co. to assist in exploring strategic alternatives for the company.

"We are taking these steps to enhance shareholder value," president and chief executive officer Nigel Lovett stated in a company news release.

"Although we believe we have many exciting exploration prospects to evaluate over the next several years, we believe it only prudent to retain Merrill Lynch to assist us in developing a strategy that is in all respects in the best interests of shareholders," Lovett added.

Toreador Resources is a Dallas-based oil and gas company.

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