This is interesting...If I'm reading this correctly, Toreador has the option of applying for a production license based on seismic, 1 well that was mostly CO2, and a dry hole. The Szolnok Exploration license expired on March 20th of this year.

Szolnok Block

As part of the farm-out that was concluded in late 2007, two exploration wells were drilled and a 133 sq. km 3D seismic program (Kunszentmárton program) was
acquired in the southern portion of the Szolnok block. The exploration program was funded by four joint venture partners, who agreed to pay 100% of the program's cost to earn an aggregate of 75% working interest. Initially, we retained a 25% working interest in the joint venture and were the operator. The joint venture partners include three independent oil and gas exploration companies, one of which presently operates in Hungary, and a private investment company.

The Tik-1 well was drilled to the primary objective encountering approximately 40 net meters of reservoir quality, gas-filled sand in the lower Pannonian
sequence, but analysis of the reservoir gas revealed that it was mainly composed of inert gases with only traces of methane. The well was subsequently suspended
pending further analysis.

The second well in the program, Nko-Ny-1, which was drilled to the primary objective failed to encounter commercial hydrocarbons and was declared a dry hole.

In July 2008 one of the joint venture partners increased its participating interest to 59.5% leaving us as the operator with 15% of the Szolnok block. The remaining
parties to the agreement reduced their interest in the block accordingly in return for future financial considerations.

A second 3D seismic campaign totaling 145sq. km. was carried out in October 2008 in the Endrod / Mezotur area. The acquisition focused on an area adjacent to
several existing producing fields and to a number of discoveries made in the late 1970's by the previous state oil company, OKGT. Preliminary interpretation of the
processed data has yielded positive indications however given the time remaining under the current license and the option to establish a production license over a
considerable portion of the seismic acquisition area drilling within this area shall be deferred to the development phase which is expected in late 2009 or early 2010.

Interpretation of the Kunszentmárton seismic campaign has yielded a number of leads and prospects, one of which is scheduled to be drilled in the first quarter of
2009.
Two gas wells were drilled by the previous operator in the Szolnok Block, each of

which initially tested at over 4 Mmcf per day. These stranded reserves are
uneconomic to produce under current market conditions and therefore a call for bids shall be extended to a number of interested parties in 2009.