Toreador's Eggs in One Basket

"We have all our eggs in this one basket."

Those are the words of Craig McKenzie, Chief Executive Officer of Toreador Resources Inc., which faces the prospect of the company's activities for the exploration and development of shale oil in the Paris Basin being banned over concerns that chemicals used in the hydraulic fracturing process could contaminate groundwater supplies.

McKenzie said that there no evidence that mining for shale oil pollutes water reserves.

"What is unfortunate is that there seems to be a parliamentary debate ahead of the results of the [scientific] studies."

Toreador is prepared to be totally transparent on the chemicals it uses in water, which include soap and a type of disinfectant, Mr. McKenzie said.

"It's unthinkable that all drilling could be banned," continued McKenzie.

The French parliament will be debating a bill banning shale gas and shale oil activities on May 10th.

Read the Full Article from the Wall Street Journal HERE

Read More: French Shales: Starting From Scratch