Toreador Resources Corp. (TRGL) said it completed the sale of Toreador Turkey Ltd. to Tiway Oil for a total consideration of US$10.6 million paid at closing plus exploration success payments of up to $40 million plus contingent future net profit payments.
The company noted that the transaction would result in a financial gain of about $21.2 million, which will be recorded in the third quarter of 2009.
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