TransAtlantic announces equity Offering



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/
    

    CALGARY, June 3 /CNW/ - TransAtlantic Petroleum Corp. (the "Corporation"
or "TransAtlantic" - TNP: TSX) is pleased to announce that it has filed a
preliminary short form prospectus in the Canadian provinces of British
Columbia, Alberta and Ontario in connection with a public offering (the
"Offering") of common shares of TransAtlantic (the "Common Shares"). The
Offering will be conducted through a syndicate of underwriters led by
Canaccord Capital Corporation (the "Underwriters"). Pursuant to the terms of
the Offering, the Corporation has agreed to grant the Underwriters an
over-allotment option to purchase additional Common Shares equal to up to 15%
of the Common Shares sold pursuant to the Offering, exercisable at any time,
in whole or in part, up to 30 days from the closing of the Offering.
    The Offering will be priced in the context of the market with the final
terms of the Offering to be determined at the time of pricing. Dalea Partners,
LP, an entity controlled by the Chairman of the Corporation's board of
directors, N. Malone Mitchell, 3rd, will participate in the Offering as to
Cdn$69 million. The net proceeds of the Offering will be used towards the
Corporation's 2009 capital expenditure program, to repay outstanding
indebtedness and for general corporate purposes.
    The Common Shares will be sold publicly in Canada in the Provinces of
Ontario, Alberta and British Columbia and in accordance with Regulation S
under the U.S. Securities Act of 1933, as amended (the "1933 Act") and on a
private placement basis in the United States pursuant to exemptions from the
registration requirements of the 1933 Act and such other jurisdictions as may
be agreed to by the Corporation and the Underwriters. The Offering is
scheduled to close on or about June 22, 2009 and is subject to certain
customary conditions and regulatory approvals, including the approval of the
Toronto Stock Exchange.

    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. The Common Shares offered have not
been registered under the 1933 Act, or any state securities laws and may not
be offered or sold in the United States or to a U.S. person absent
registration under the 1933 Act or an applicable exemption from the
registration requirements of the 1933 Act and applicable state securities
laws.

    ABOUT TRANSATLANTIC

    TransAtlantic Petroleum Corp. is a vertically integrated, international
energy company engaged in the acquisition, development, exploration, and
production of crude oil and natural gas. The Corporation holds interests in
developed and undeveloped oil and gas properties in Turkey, Morocco, Romania,
and California. Additional information about the Corporation may be obtained
by visiting the Corporation's website, www.transatlanticpetroleum.com.

    
    (NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY
    HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)
    

    This news release contains statements regarding expectations, plans or
information about future events, including statements regarding the proposed
use of proceeds of the Offering, that may constitute forward-looking
statements or information under applicable securities legislation. Such
forward-looking statements or information are based on a number of assumptions
which may prove to be incorrect. Assumptions have been made regarding, among
other things, the ability of the Corporation to continue to explore and
develop its foreign initiatives.
    Although the Corporation believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue reliance
should not be placed on forward-looking statements because the Corporation can
give no assurance that such expectations will prove to be correct.
Forward-looking statements or information are based on current expectations,
estimates and projections that involve a number of risks and uncertainties
which could cause actual results to differ materially from those anticipated
by the Corporation and described in the forward-looking statements or
information. These risks and uncertainties including but are not limited to
the continuing ability of the Corporation to operate effectively
internationally, reliance on current oil and gas laws, rules and regulations,
volatility of oil and gas prices, fluctuations in currency and interest rates,
imprecision of resource estimates, the results of exploration, development and
drilling, imprecision in estimates of future production capacity, the
possibility of unanticipated costs and expenses, changes in environmental and
other regulations or the interpretation of such regulations, the ability to
obtain necessary regulatory approvals, weather and general economic and
business conditions.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and the Corporation undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.






For further information:

For further information: Matt McCann, Chief Executive Officer; Scott C.
Larsen, President, Phone: (214) 220-4323, Internet:
http://www.transatlanticpetroleum.com; Address: 5910 N. Central Expressway,
Suite 1755, Dallas, Texas, 75206

Organization Profile

TRANSATLANTIC PETROLEUM CORP.

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