THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THEY MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE
144 UNDER SUCH ACT.
Toreador Resources Corporation, a Delaware corporation (the "Company"), on April 14, 2003 (the "Warrant
Issue Date"). This Warrant is issued pursuant to the terms of that certain Letter Agreement dated March 25,
2003, by the Company and Barclays Capital, an affiliate of the Holder.
1. Purchase Shares. Subject to the terms and conditions hereinafter set forth, the Holder is entitled, upon
surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall
notify the holder hereof in writing), to purchase from the Company up to One Hundred Thousand (100,000) fully
paid and nonassessable shares of Common Stock, par value $0.15625, of the Company, as constituted on the
Warrant Issue Date (the "Common Stock"). The number of shares of Common Stock issuable pursuant to this
Section 1 (the "Shares") shall be subject to adjustment pursuant to Section 7 hereof.
2. Exercise Price. The purchase price for the Shares shall be US$3.52 per share, as adjusted from time to time
pursuant to Section 7 hereof (the "Exercise Price").
3. Exercise Period. This Warrant shall be exercisable commencing six months after the Warrant Issue Date and
shall expire and be of no further force or effect at 4:30 pm (Dallas time) on April 7, 2008 (the "Expiration Date").
4. Method of Exercise. While this Warrant remains outstanding and exercisable in accordance with Section 3
above, the Holder may exercise, in whole or in part, the purchase rights evidenced hereby. Such exercise shall be
(a) the surrend