TOREADOR RESOURCES CORP
SEC PURCHASE AGMT K. ANDERSON EX 10.4
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<DESCRIPTION>SEC PURCHASE AGMT K. ANDERSON EX 10.4
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT 10.4</FONT></P>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES PURCHASE
AGREEMENT </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITIES
PURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;) dated and accepted as of the date
set forth on the signature page hereof, by and among Toreador Resources Corporation, a
Delaware corporation (the &#147;<U>Company</U>&#148;), and Karen Anderson (the
&#147;<U>Purchaser</U>&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company wishes to sell to the Purchaser, and the Purchaser wishes to buy, on the terms and
subject to the conditions set forth in this Agreement, shares (the &#147;<U>Preferred
Shares</U>&#148;) of the Company&#146;s Series&nbsp;A-1 Convertible Preferred Stock, par
value $1.00 per share (the &#147;<U>Preferred Stock</U>&#148;). The Preferred Shares are
convertible pursuant to the terms of a Certificate of Designation relating to the
Preferred Stock, the form of which is attached hereto as <U>Exhibit A</U> (the
&#147;<U>Certificate of Designation</U>&#148;) into shares (the &#147;<u>Conversion
Shares</U>&#148;) of the Company&#146;s Common Stock, par value $0.15625 per share (the
&#147;<U>Common Stock</U>&#148;). Dividends on the Preferred Shares are payable, subject
to the terms and conditions of the Certificate of Designation, in cash. The Preferred
Shares and the Conversion Shares are collectively referred to herein as the
&#147;<U>Securities</U>&#148;. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
sale of the Preferred Shares by the Company to the Purchaser will be effected in reliance
upon the exemption from securities registration afforded by the provisions of Regulation D
(&#147;<U>Regulation D</U>&#148;), as promulgated by the Securities and Exchange
Commission (the &#147;<U>Commission</U>&#148;) under the Securities Act of 1933, as
amended (the &#147;<U>Securities Act</U>&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and the Purchaser hereby agree as follows: </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.&nbsp;&nbsp;&nbsp;&nbsp;<i><u>PURCHASE AND SALE OF
PREFERRED SHARES</U></I>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement
to Purchase and Sell</U>. Upon the terms set forth herein, the Company agrees to sell and
the Purchaser agrees to purchase 20,000 Preferred Shares at a purchase price equal to
Twenty-Five Dollars ($25.00) per Preferred Share (cumulatively, the &#147;<U>Purchase
Price</U>&#148;). The Purchaser shall pay the Purchase Price at the closing (the &#147;<U>Closing</U>&#148;)
by check or wire transfer of immediately available funds pursuant to wire transfer
instructions provided by the Company.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Definitions</U>. When used herein, (A) &#147;<U>business day</U>&#148; shall mean any day
on which the New York Stock Exchange and commercial banks in the city of New York are
open for business, (B) an &#147;<U>affiliate</U>&#148; of a party shall mean any person
or entity controlling, controlled by or under common control with that party and (C)
&#147;<U>control</U>&#148; shall mean, with respect to an entity, the ability to direct
the business, operations or management of such entity, whether through an equity interest
therein or otherwise.  </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.&nbsp;&nbsp;&nbsp;&nbsp;
          <I><U>REPRESENTATIONS AND WARRANTIES OF THE PURCHASER</U></I><U></U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Purchaser hereby makes the following representations and warranties to the Company and
agrees with the Company that, as of the date of this Agreement: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization; Enforceability</U>. This Agreement and the Registration Rights
Agreement have been duly and validly executed and delivered by the Purchaser. This
Agreement constitutes the Purchaser&#146;s valid and legally binding obligation,
enforceable in accordance with its terms.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-1-</FONT></P><page>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Accredited Investor; Investment Intent</U>. The Purchaser is an accredited investor as
that term is defined in Rule 501(a) of Regulation D, and is acquiring the Preferred
Shares solely for Purchaser&#146;s own account for investment purposes as a principal and
not with a present view to the public resale or distribution of all or any part thereof,
except pursuant to sales that are exempt from the registration requirements of the
Securities Act and/or sales registered under the Securities Act; <U>provided, however</U>,
that in making such representation, the Purchaser does not agree to hold the Securities
for any minimum or specific term and reserves the right to sell, transfer or otherwise
dispose of the Securities at any time in accordance with the provisions of this Agreement
and with Federal and state securities laws applicable to such sale, transfer or
disposition.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Information</U>.  The Company has provided the Purchaser with information regarding the business,
operations and financial condition of the Company, and has granted to the Purchaser the
opportunity to ask questions of and receive answers from representatives of the Company,
its officers, directors, employees and agents concerning the Company and materials
relating to the terms and conditions of the purchase and sale of the Preferred Shares
hereunder. The Purchaser understands that the investment in the Preferred Shares involves
a high degree of risk. The Purchaser has sought such accounting, legal and tax advice as
the Purchaser has deemed necessary to make an informed investment decision with respect
to the acquisition of the Preferred Shares.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Disposition</U>. The Purchaser acknowledges that, except as provided in the
Registration Rights Agreement, the Securities have not been and are not being registered
under the Securities Act and may not be transferred or resold without registration under
the Securities Act or unless pursuant to an exemption therefrom.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Legend</U>. The Purchaser understands that the certificates representing the
Securities will bear at issuance a restrictive legend in substantially the following
form:  </FONT></P>


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<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#147;The
securities represented by this certificate have not been registered under the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;), or the securities laws of any
state, and may not be offered or sold unless a registration statement under the Securities
Act and applicable state securities laws shall have become effective with regard thereto,
or an exemption from registration under the Securities Act and applicable state securities
laws is available in connection with such offer or sale. Such securities are issued
subject to the provisions of (i) the Certificate of Designation relating to the Series A-1
Convertible Preferred Stock of Toreador Resources Corporation (the &#147;Company&#148;),
(ii) a Securities Purchase Agreement by and among the Company and the Purchaser signatory
thereto (the &#147;Purchaser&#148;) and (iii) a Registration Rights Agreement by and among
the Company and the Purchaser.&#148; </FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing, it is agreed that, as long as (A) the resale or transfer (including without
limitation a pledge) of any of the Securities is registered pursuant to an effective
registration statement, (B) such Securities can be sold pursuant to Rule 144 under the
Securities Act (&#147;<U>Rule 144</U>&#148;) and a registered broker dealer provides to
the Company a customary broker&#146;s Rule 144 letter and the Purchaser delivers to the
Company a customary seller&#146;s representation letter and a copy of any Form 144 which
may have been required to be filed by such Holder pursuant to Rule 144, or (C) such
Securities are eligible for resale under Rule 144(k), such Securities shall be issued
without any legend or other restrictive language and, with respect to Securities upon
which such legend is stamped, the Company shall issue new certificates without such legend
to the holder upon request. </FONT></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-2-</FONT></P><page>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.6&nbsp;&nbsp;&nbsp;&nbsp;<U>No Governmental Review</U>. The Purchaser understands that no United States Federal or state
agency or any other government or governmental agency has passed on or made any
recommendation or endorsement of the Securities or the fairness or suitability of the
investment in the Securities nor have such authorities passed upon or endorsed the merits
of the offering of the Securities.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Residency</U>. The Purchaser is a resident of that state or jurisdiction specified on
the Purchaser&#146;s signature page to this Agreement.  </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.&nbsp;&nbsp;&nbsp;&nbsp;
          <I><U>REPRESENTATIONS AND WARRANTIES OF THE COMPANY</U></I><U></U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby makes the following representations and warranties to the Purchaser and
agrees with the Purchaser that, as of the date of this Agreement: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization, Good Standing and Qualification</U>. Each of the Company and its
subsidiaries is duly organized, validly existing and in good standing under the laws of
the jurisdiction of its incorporation or organization and has all requisite corporate
power and authority to carry on its business as now conducted. Each of the Company and
its subsidiaries is duly qualified to transact business and is in good standing in each
jurisdiction in which the failure so to qualify would have a material adverse effect on
the consolidated business or financial condition of the Company and its subsidiaries
taken as a whole. The term &#147;subsidiaries&#148; shall mean entities in which the
Company has an equity interest of 50% or greater.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization; Consents</U>. The Company has the requisite corporate power and
authority to enter into and perform its obligations under (i) this Agreement, (ii) the
Registration Rights Agreement and (iii) all other agreements, documents, certificates or
other instruments delivered by the Company contemporaneously herewith (the instruments
described in (i), (ii) and (iii) being collectively referred to herein as the &#147;<u>Transaction
Documents</U>&#148;), to execute and perform its obligations under the Certificate of
Designation, to issue and sell the Preferred Shares to such Purchaser in accordance with
the terms hereof, and to issue the Conversion Shares upon conversion of the Preferred
Shares in accordance with the Certificate of Designation. All corporate action on the
part of the Company by its officers, directors and stockholders necessary for (A) the
authorization, execution and delivery of, and the performance by the Company of its
obligations under, the Transaction Documents and (B) the authorization, execution and
filing of, and the performance by the Company of its obligations under, the Certificate
of Designation has been taken, and no further consent or authorization of the Company,
its Board of Directors, its stockholders, any governmental agency or organization (other
than such approval as may be required under the Securities Act and applicable state
securities laws in respect of the Registration Rights Agreement), or any other person or
entity is required (pursuant to any rule of the National Association of Securities
Dealers, Inc., other than with respect to the listing of the Conversion Shares on the
Nasdaq National Market System, or otherwise).  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Enforcement</U>. The Transaction Documents and the Certificate of Designation
constitute valid and legally binding obligations of the Company, enforceable in
accordance with their respective terms, except as such enforcement may be limited by (i)
applicable bankruptcy, insolvency, reorganization or other laws of general application
relating to or affecting the enforcement of creditors&#146; rights generally, (ii)
general principles of equity and (iii) as to indemnification under the Securities Act or
the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;),
principles of public policy.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-3-</FONT></P><page>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure Documents; Agreements; Financial Statements; Other Information</U>. The
Company has filed with the Commission: (i) the Company&#146;s Annual Report on Form 10-K
for the year ended December 31, 2002, as amended, (ii) Quarterly Report on Form 10-Q for
the quarter ended March&nbsp;31, 2003, (iii) all Current Reports on Form 8-K required to
be filed with the Commission since December 31, 2002 and (iv) the Company&#146;s
definitive Proxy Statement for its 2003 Annual Meeting of Stockholders (collectively, the
&#147;<U>Disclosure Documents</U>&#148;). Each Disclosure Document, as of the date of the
filing thereof with the Commission, conformed in all material respects to the
requirements of the Exchange Act, and the rules and regulations thereunder and, as of the
date of such filing, such Disclosure Document did not contain an untrue statement of
material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made,
not misleading. As of their respective dates, the financial statements of the Company
included in the Disclosure Documents complied as to form in all material respects with
applicable accounting requirements and the published rules and regulations of the
Commission with respect thereto. Such financial statements have been prepared in
accordance with generally accepted accounting principles consistently applied at the
times and during the periods involved (except (i) as may be otherwise indicated in such
financial statements or the notes thereto, or (ii) in the case of unaudited interim
statements, to the extent they may exclude footnotes or may be condensed or summary
statements) and fairly present in all material respects the financial position of the
Company as of the dates thereof and the results of its operations and cash flows for the
periods then ended (subject, in the case of unaudited statements, to normal year-end
adjustments).  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid Issuance</U>. The Preferred Shares are duly authorized and, when issued, sold
and delivered in accordance with the terms hereof, (i) will be duly and validly issued,
fully paid and nonassessable, free and clear of any taxes, liens, claims, preemptive or
similar rights or encumbrances imposed by or through the Company, (ii) based in part upon
the representations of such Purchaser in this Agreement, will be issued, sold and
delivered in compliance with all applicable Federal and state securities laws and (iii)
will be entitled to all of the rights, preferences and privileges set forth in the
Certificate of Designation. The Conversion Shares are duly authorized and reserved for
issuance and, when issued upon conversion of the Preferred Shares in accordance with the
terms of the Certificate of Designation, will be duly and validly issued, fully paid and
nonassessable, free and clear of any taxes, liens, claims, preemptive or similar rights
or encumbrances imposed by or through the Company. As of the date hereof, there are
37,000 shares of Preferred Stock issued and outstanding.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.6&nbsp;&nbsp;&nbsp;&nbsp;<U>No Conflict with Other Instruments</U>. Neither the Company nor any of its
subsidiaries is in violation of any provisions of its charter, bylaws or any other
governing document as amended and in effect on and as of the date hereof or in default
(and no event has occurred which, with notice or lapse of time or both, would constitute
a default) under any provision of any instrument or contract to which it is a party or by
which it is bound, or of any provision of any Federal or state judgment, writ, decree,
order, statute, rule or governmental regulation applicable to the Company, which would
have a material adverse effect on the consolidated business or financial condition of the
Company and its subsidiaries taken as a whole. The (i) execution, delivery and
performance of this Agreement and the other Transaction Documents and (ii) consummation
of the transactions contemplated hereby and thereby (including without limitation, the
issuance of the Preferred Shares, and the reservation for issuance and issuance of the
Conversion Shares) will not result in any such violation or be in conflict with or
constitute, with or without the passage of time and giving of notice, either a default
under any such provision, instrument or contract or an event which results in the
creation of any lien, charge or encumbrance upon any assets of the Company or of any of
its subsidiaries, which violation, conflict, default, lien, charge or encumbrance would
have a material adverse affect on the consolidated business or financial condition of the
Company and its subsidiaries taken as a whole, or the triggering of any preemptive or
anti-dilution rights or rights of first refusal or first offer on the part of holders of
the Company&#146;s securities.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-4-</FONT></P><page>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.&nbsp;&nbsp;&nbsp;&nbsp;
          <I><U>COVENANTS OF THE COMPANY</U></I><U></U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate Existence</U>. The Company shall, so long as the Purchaser or any affiliate
of the Purchaser beneficially owns any Securities, maintain its corporate existence in
good standing and shall pay all taxes owed by it when due except for taxes which the
Company reasonably disputes or as to which the failure to pay could not reasonably be
expected to have a material adverse effect on the consolidated business or financial
condition of the Company and its subsidiaries taken as a whole.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Provision of Information</U>. Upon written request, the Company shall provide the
Purchaser with copies of its annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K and proxy statements and other materials sent to
stockholders, in each such case promptly after the filing thereof with the Commission,
until the conversion or redemption of all of the Preferred Shares held by the Purchaser.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.3&nbsp;&nbsp;&nbsp;&nbsp;<U>Form D; Blue-Sky Qualification</U>. The Company agrees to file a Form D with respect
to the Securities as required under Regulation D. The Company shall, on or before the
Closing, take such action as is necessary to qualify the Preferred Shares for sale under
applicable state or &#147;blue-sky&#148; laws or obtain an exemption therefrom.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Reporting Status</U>. As long as the Purchaser or any affiliate of the Purchaser
beneficially owns any Securities and until the date on which any of the foregoing may be
sold to the public pursuant to Rule 144(k) (or any successor rule or regulation), (i) the
Company shall timely file with the Commission all reports required to be so filed
pursuant to the Exchange Act and (ii) the Company shall not terminate its status as an
issuer required by the Exchange Act to file reports thereunder even if the Exchange Act
or the rules or regulations thereunder would permit such termination.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation of Common Stock</U>. The Company shall at all times have authorized and
reserved for issuance, free from any preemptive rights, solely for the purpose of
effecting conversions of the Preferred Shares hereunder, such number of its shares of
Common Stock as shall from time to time be sufficient to effect the conversion of all of
the Preferred Shares in full.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Use of Proceeds</U>. The Company shall use the proceeds from the sale of the Preferred
Shares for general corporate purposes only, in the ordinary course of its business and
consistent with past practice and shall not use such proceeds to make a loan to any
employee, officer or director of the Company or to repurchase or pay a dividend on shares
of Common Stock.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Quotation on Nasdaq</U>. The Company shall (i) promptly following the closing, take
such action as may be necessary to include the Conversion Shares on the Nasdaq National
Market System, and (ii) use its best efforts to maintain the designation and quotation,
or listing, of the Common Stock on the Nasdaq National Market System, the Nasdaq Small
Cap Market, the New York Stock Exchange or the American Stock Exchange.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-5-</FONT></P><page>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.&nbsp;&nbsp;&nbsp;&nbsp;<i><u>MISCELLANEOUS</U></I>.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.1&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival; Severability</U>. The representations, warranties, covenants and indemnities
made by the parties herein shall survive the closing of this Agreement notwithstanding
any due diligence investigation made by or on behalf of the party seeking to rely
thereon, provided that the representations and warranties contained herein shall survive
for two (2) years following the date of this Agreement. In the event that any provision
of this Agreement becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, this Agreement shall continue in full force and effect
without said provision; provided that in such case the parties shall negotiate in good
faith to replace such provision with a new provision which is not illegal, unenforceable
or void, as long as such new provision does not materially change the economic benefits
of this Agreement to the parties.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.2&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors and Assigns</U>. The terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective successors and permitted assigns of the
parties. Nothing in this Agreement, express or implied, is intended to confer upon any
party other than the parties hereto or their respective successors and permitted assigns
any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement. The Purchaser may assign such Purchaser&#146;s
rights and obligations hereunder, in connection with any private sale or transfer of the
Preferred Shares in accordance with the terms hereof, as long as, as a condition
precedent to such transfer, the transferee executes an acknowledgment agreeing to be
bound by the applicable provisions of this Agreement, in which case the term &#147;Purchaser&#148; shall
be deemed to refer to such transferee as though such transferee were an original
signatory hereto. The Company may not assign it rights or obligations under this
Agreement.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.3&nbsp;&nbsp;&nbsp;&nbsp;<U>No Reliance; Representations by Purchaser</U>. Each party acknowledges that (i) it has
such knowledge in business and financial matters as to be fully capable of evaluating
this Agreement, the other Transaction Documents and the transactions contemplated hereby
and thereby, (ii) it is not relying on any advice or representation of the other party in
connection with entering into this Agreement, the other Transaction Documents or such
transactions (other than the representations made in this Agreement or the other
Transaction Documents), (iii) it has not received from such party any assurance or
guarantee as to the merits (whether legal, regulatory, tax, financial or otherwise) of
entering into this Agreement or the other Transaction Documents or the performance of its
obligations hereunder and thereunder, and (iv) it has consulted with its own legal,
regulatory, tax, business, investment, financial and accounting advisors to the extent
that it has deemed necessary, and has entered into this Agreement and the other
Transaction Documents based on its own independent judgment and on the advice of its
advisors as it has deemed necessary, and not on any view (whether written or oral)
expressed by such party.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.4&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunctive Relief</U>. The Company acknowledges that a breach by it of its obligations
hereunder will cause irreparable harm to the Purchaser and that the remedy or remedies at
law for any such breach will be inadequate and agrees, in the event of any such breach,
in addition to all other available remedies, to an injunction restraining any breach and
requiring immediate and specific performance of such obligations without the necessity of
showing economic loss.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-6-</FONT></P><page>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.5&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law; Jurisdiction</U>. This Agreement shall be governed by and construed
under the laws of the State of Texas without regard to the conflict of laws provisions
thereof. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the
state and Federal courts sitting in the City of Dallas, Dallas County, for the
adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is brought in an
inconvenient forum or that the venue of such suit, action or proceeding is improper.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.6&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, and all of which together shall constitute one and
the same instrument.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.7&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>. The headings used in this Agreement are used for convenience only and
are not to be considered in construing or interpreting this Agreement.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.8&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>. Any notice, demand or request required or permitted to be given by any
party to any other party pursuant to the terms of this Agreement shall be in writing and
shall be deemed given (i) when delivered personally or by verifiable facsimile
transmission (with an original to follow) on or before 5:00 p.m., central time, on a
business day or, if such day is not a business day, on the next succeeding business day,
(ii) on the next business day after timely delivery to a nationally-recognized overnight
courier and (iii) on the third business day after deposit in the U.S. mail (certified or
registered mail, return receipt requested, postage prepaid), addressed to the parties as
follows:  </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>If
to the Company:</I> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Toreador
Resources Corporation<br>4809 Cole Avenue, Suite 108<br>Dallas, Texas 75205<br>
Attn.:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer<br>
Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214-559-3933  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>with
a copy to</I>:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
   Haynes and Boone, LLP,<br>
   901 Main Street, Suite 3100<br>
   Dallas, Texas 75202<br>
   Attn:&nbsp;&nbsp;&nbsp;&nbsp;Janice V. Sharry<br>
   Tel:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214-651-5562<br>
   Fax:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214-200-0676 </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and if to the Purchaser, to such
address for the Purchaser as shall appear on the signature page hereof executed by the
Purchaser, or as shall be designated by the Purchaser in writing to the Company. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.9&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>. The Company and the Purchaser shall pay all costs and expenses that it
incurs in connection with the negotiation, execution, delivery and performance of this
Agreement.  </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-7-</FONT></P><page>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.10&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire Agreement; Amendments</U>. This Agreement and the other Transaction Documents
constitute the entire agreement between the parties with regard to the subject matter
hereof and thereof, superseding all prior agreements or understandings, whether written
or oral, between or among the parties. Except as expressly provided herein, neither this
Agreement nor any term hereof may be amended except pursuant to a written instrument
executed by the Company and the Purchaser, and no provision hereof may be waived other
than by a written instrument signed by the party against whom enforcement of any such
waiver is sought.  </FONT></P>



<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-8-</FONT></P><page>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE PAGE TO
SECURITIES PURCHASE AGREEMENT </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the undersigned have executed this Agreement. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PURCHASER NAME:&nbsp;&nbsp;&nbsp;&nbsp;
<u>Karen Anderson</u> </FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD WIDTH="45%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><u>&nbsp;&nbsp;/s/ Karen Anderson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Dated August 13, 2003</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:&nbsp;&nbsp;&nbsp;&nbsp;Karen Anderson<BR>
     Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owner</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>






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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ADDRESS: </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>1106 East College Dr.</u></FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Marshall, MN 56250</u></FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Tel:&nbsp;&nbsp;&nbsp;&nbsp;<u>507-537-1508</u></FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Fax:&nbsp;&nbsp;&nbsp;&nbsp;<u>507-537-1508</u></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dollar Amount of Series A-1
Preferred Stock to be Purchased:  $<u>500,000</U> </FONT></P>



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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Accepted this 13th day of
August 2003. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TOREADOR RESOURCES
CORPORATION </FONT></H1>



<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><u>&nbsp;&nbsp;/s/ Douglas W. Weir&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT>Name:&nbsp;&nbsp;&nbsp;&nbsp;Douglas W. Weir<br>
      Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief Financial Officer</TD></TR>
</TABLE>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-9-</FONT></P><page>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SCHEDULE OF PURCHASERS </FONT></H1>




<TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchaser Name</u></FONT></TH>
     <TH ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Address</U></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">Purchase Price of<br><u>Series A-1 Preferred Stock</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Karen Anderson</FONT></TD>
     <TD WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1106 East College Dr.<br>Marshall, MN 56250</FONT></TD>
     <TD ALIGN="CENTER" WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$500,000</FONT></TD></TR>
</TABLE>



<br>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-10-</FONT></P><page>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>EXHIBIT A </U></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SERIES A-1 CONVERTIBLE
PREFERRED STOCK<BR>CERTIFICATE OF
DESIGNATIONS</FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Attached </FONT></P>



<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>-11-</FONT></P><page>


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