Toreador Resources Corporation/ZaZa Energy, LLC Merger

Toreador Resources Corporation and ZaZa Energy, LLC, a privately held oil and gas company based in Houston, Texas, have signed a definitive agreement to combine the companies. The combined portfolio comprises three areas – the Eagle Ford core and the emerging Eagle Ford/Woodbine resource plays in Texas and the Paris Basin in France with a current total of 423,000 net acres. Both the Eagle Ford and Paris Basin businesses have strategic partnerships with subsidiaries of Hess Corporation. Based on the closing share price of Toreador on August 9, 2011, the implied market capitalization for the combined company is approximately $294m.

Under the terms of the transaction, ZaZa equity holders will receive approximately 76.2 million shares, representing 75 percent of the new company, ZaZa Energy Corporation, as well as $50 million in notes or cash. Toreador stockholders will receive approximately 25.4 million shares, representing 25 percent of the new Company.

The Company will be headquartered in Houston, Texas, with offices in Corpus Christi, Texas and Paris, France, and is expected to trade on the NASDAQ under the stock ticker symbol “ZAZA”. Net production in the Eagle Ford core and the Paris Basin is expected to exceed 1,100 boe/d by year-end 2011, increasing to 5,000 boe/d by the end of 2013, which does not include any contribution from future drilling in the Eaglebine, Paris Basin conventional or Liassic.

Mr. Todd Brooks, Co-Founder and Managing Partner, Land, Legal and Finance, of ZaZa, said: “Our combination with Toreador is the culmination of our efforts over the past two years to diversify our asset base while building a growth oriented company and exploiting one of the most economic shale plays in the continental United States. ”