Past year: ▼ 94%(15.0c – 2.52 USD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Sept 2005capital raising announcement▲ GoodMajor
Toreador issued $75 million of 5.00% Convertible Senior Notes due 2025, with a 30-day option for buyers to take an additional $11.25 million - a major capital raise to fund its international growth.
22 Sept 2005capital raising announcement▲ GoodMajor
Toreador raised about $25 million selling 806,450 shares to institutional investors at $31 per share.
What it means for a shareholder
806,450 new shares at $31.00 to raise about $25.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Sept 2005capital raising announcement● Neutral
A legacy Madison Oil merger warrant was exercised for a small block of shares.
15 Aug 2005capital raising announcement● Neutral
Toreador drew $5 million under its Natexis revolving credit facility to fund Turkey operations.
13 July 2005capital raising announcement● Neutral
Toreador issued lender Natexis a warrant for 50,000 shares as part of the 2005 French credit facility terms.
17 June 2005asset acquisition disposition▲ GoodMajor
The Pogo Hungary acquisition closed for $9 million, giving Toreador roughly 764,000 acres of exploration permits and a partially delineated gas field in Hungary.
13 June 2005material agreement● NeutralMajor
Toreador agreed to buy Pogo Hungary Oil and Gas Exploration from Pogo Overseas Production, its first move into Hungary.
24 Feb 2005capital raising announcement● Neutral
French government approval came through for the $15 million Natexis revolving credit facility agreed in December 2004, finalizing that credit line.
11 Feb 2005material agreement▲ GoodMajor
Toreador agreed to sell 1,250,000 shares of common stock to underwriter Morgan Keegan at $22.85 per share, about $28.6 million, with an initial public offering price of $24.25. Morgan Keegan also had an option for 187,500 more shares to cover over-allotments.
7 Feb 2005capital raising announcement● Neutral
An investor exercised a small warrant for 3,200 shares at $8.20 each.
What it means for a shareholder
3,200 new shares at $8.20 to raise about $26,240. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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25 Jan 2005material agreement termination▲ Good
The last of the $7.5 million convertible notes converted to equity, extinguishing the 2004 note issue entirely.
21 Jan 2005capital raising announcement● Neutral
A further $3 million of the notes converted into about 366,000 shares.
20 Jan 2005capital raising announcement● Neutral
Another $2 million of the convertible notes converted into roughly 244,000 shares.
19 Jan 2005capital raising announcement● Neutral
A noteholder converted $2.5 million of the 2004 convertible notes into about 305,000 Toreador shares.
3 Jan 2005debt financing● Neutral
Toreador's US subsidiaries separately lined up a $25 million credit facility with Texas Capital Bank, secured by their remaining US oil and gas leases.
29 Dec 2004debt financing● NeutralMajor
Toreador's French subsidiary lined up a $15 million revolving credit facility with French bank Natexis Banques Populaires, pending French government approval, to fund hydrocarbon field development.
19 Oct 2004drilling progress report● Neutral
Toreador announced plans to spud the Calgan-1 exploratory well onshore southern Turkey, a prospect estimated to hold 5-10 million barrels.
24 Sept 2004drilling progress report▲ Good
Toreador raised its 2004 capital spending budget to $16.0 million as exploration activity picked up across Turkey, France and Romania.
4 Aug 2004drilling progress report▲ Good
Toreador reported improved second-quarter 2004 results.
23 July 2004production update● Neutral
Toreador closed a $7.5 million private placement of 7.85% convertible subordinated notes.
13 July 2004drilling progress report● NeutralMajor
Toreador spudded the Ayazli-1 exploratory well offshore Turkey - the opening well of what would become its South Akcakoca Sub-basin gas play, the company's defining project for the rest of the decade.
15 June 2004drilling progress report▲ Good
The Charmottes-109 development well in France was shut in as a confirmed oil producer, awaiting completion work before it could be brought fully online.
4 June 2004drilling progress report● NeutralMajor
Toreador farmed out part of its Black Sea (Turkey) acreage to Stratic Energy Corporation, bringing in a new exploration partner ahead of drilling.
20 May 2004drilling progress report▲ Good
Toreador announced its 2004 annual meeting and disclosed it had been granted additional exploration acreage offshore Turkey.
13 May 2004drilling progress report▲ Good
Toreador reported first-quarter 2004 results, boosted by proceeds from January's US asset sale.
1 Apr 2004production update● Neutral
Toreador previewed its 2004 operating plans for investors ahead of an industry conference, covering upcoming activity in Turkey, France and Romania.
31 Mar 2004drilling progress report▲ Good
Toreador reported full-year 2003 results: EPS rose to $0.20 and revenue climbed 17% over 2002 as its newly acquired Turkey, France and Romania assets began contributing.
28 Jan 2004asset acquisition disposition▲ GoodMajor
Toreador sold its US mineral and royalty assets to Black Stone Acquisitions Partners for $45 million cash. About $29.9 million of the proceeds repaid its Barclays and Bank of Texas credit facilities, $8 million went into a tax-deferred escrow, and about $4.4 million went to working capital.
8 Oct 2003auditor change● Neutral
Toreador amended its report on a change of auditor: on September 23, 2003 it dismissed Ernst & Young and hired Hein + Associates LLP, approved by the audit committee and board. The filing says E&Y's reports for 2002 and 2001 were clean and there were no disagreements. This amendment (filed October 8, 2003) adds E&Y's letter agreeing with the statements.
26 Sept 2003auditor change● Neutral
Toreador dismissed Ernst & Young and retained Hein + Associates as its independent accountant.
