| September 29, 2009 Announces Effectiveness of Registration Statement on Form S-1 and Updates Drilling Activity | |
| TransAtlantic Petroleum Corp. (TSX:TNP) (OTC.BB:TAPFF) announced today that the United States Securities and Exchange Commission has declared effective the Company's Registration Statement on Form S-1. The Registration Statement registers for resale 55,544,300 of the Company's common shares on behalf of certain selling shareholders named in the Registration Statement. The selling shareholders purchased their shares on June 22, 2009 either in an offering of common shares conducted outside the United States in reliance on Regulation S under the Securities Act of 1933 or inside the United States in compliance with Regulation D under the Securities Act of 1933. The common shares have been registered for future sales which may be made from time to time by the selling shareholders. Drilling Update In Turkey, the Company expects its first Selmo oil field infill well, the S-54, to commence oil production in a few days. The Company will resume testing the Atesler-1 well shortly upon the arrival of a straddle packer. The packer will isolate certain water bearing zones to determine if a preliminary oil show will be economic to produce. In the Arpatepe field area, the Company is coordinating with its 50% partner, Aladdin Middle East, on the drilling of the Arpatepe-3 well, which is expected to be drilled in the fourth quarter. The Company is also coordinating plans with Aladdin to drill additional exploration and appraisal wells to test other prospect areas on the Arpatepe license. In Morocco, the Company has drilled the HR-33bis well to a total depth of 3,521 feet and is awaiting logging and perforating tools to test and complete the well. The Company continues to experience drilling difficulties on the OZW-1 exploration well on the Ouezzane-Tissa license. In Romania, the Company is currently drilling the fourth well of its seven-well 2009 drilling program. The Company plans to commence testing and completion of these four wells beginning in late October. The Company expects to commence drilling the first of three planned exploration wells on the Sud Craiova license in late October. The Sud Craiova wells will target shallow tertiary aged sandstones, which are expected to be natural gas bearing, at a depth of less than 1,000 meters. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. | |
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