/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, June 22 /CNW/ - TransAtlantic Petroleum Corp. (the "Corporation"
or "TransAtlantic" - TNP - TSX) is pleased to announce that it has closed its
previously announced public offering (the "Offering") of 98,377,300 common
shares of TransAtlantic (the "Common Shares") at a price of Cdn$1.65 per
Common Share (the "Offering Price") for gross proceeds to the Corporation of
approximately Cdn$162 million, which includes the proceeds from the exercise
in full by the underwriters of an over-allotment option to purchase an
additional 7,377,300 Common Shares at the Offering Price.
The offering of 56,559,300 Common Shares (Cdn$93 million) was
underwritten by a syndicate of underwriters led by Canaccord Capital
Corporation. An additional 41,818,000 Common Shares (Cdn$69 million) were
issued to Dalea Partners, LP, an entity controlled by the Chairman of the
Corporation's board of directors, N. Malone Mitchell, 3rd.
Upon closing of the Offering, the Corporation has 253,636,666 Common
Shares issued and outstanding.
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 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
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
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