HAMILTON, Bermuda, Feb. 20, 2018 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE American:TAT) (the “Company” or “TransAtlantic”) today provided an investor presentation regarding the potential of the Company’s assets, a 2017 reserves presentation, and an update on its marketing process.
Today, the Company issued an investor presentation regarding the potential of the Company’s assets and a presentation on the Company’s 2017 reserves. Both presentations can be found on the Company’s website under the Investor Relations section at https://transatlanticpetroleum.gcs-web.com/events-and-presentations. The presentations contain certain non-GAAP financial measures. Please see the reconciliations for such non-GAAP financial measures contained at the end of each presentation.
Strategic Marketing Process
As previously disclosed, the Company has formed a strategic committee of the board of directors, headed by Mel Riggs, in order to conduct a marketing process of the Company. The strategic committee has engaged Tudor Pickering Holt & Co. to act as financial advisor, who has begun the process of marketing the Company.
There is no assurance that the strategic marketing process will result in the Company completing a sale of the Company or its assets. The Company does not intend to make any further announcements regarding this process unless and until a final decision has been made by its board of directors or until such time as it deems it appropriate.
About TransAtlantic Petroleum
The Company is an international oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and natural gas. The Company holds interests in developed and undeveloped properties in Turkey and Bulgaria.
(NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)
This news release and the presentations referred to herein contain statements concerning the marketing of the Company, the Company’s drilling program, the Company’s 3D seismic program, the evaluation of the Company’s prospects in the Thrace Basin in Turkey, the Molla Area of Southeast Turkey, and Bulgaria, information on the Company’s reserves, use of future prospective capital in the Company’s business, expectations of future funding and capital sources, drilling, completion, and cost of wells, the production and sale of oil and natural gas, as well as other expectations, plans, goals, objectives, assumptions, and information about future events, conditions, results of operations, and performance 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.
Although the Company 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 Company 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 Company and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, access to sufficient capital; market prices for natural gas, natural gas liquids and oil products; estimates of reserves and economic assumptions; the ability to produce and transport natural gas, natural gas liquids, and oil products; the results of exploration and development drilling and related activities; economic conditions in the countries and provinces in which the Company carries on business, especially economic slowdowns; actions by governmental authorities; receipt of required approvals; increases in taxes; legislative and regulatory initiatives relating to fracture stimulation activities; changes in environmental and other regulations; renegotiations of contracts; political uncertainty, including actions by insurgent groups or other conflict; outcomes of litigation; the negotiation and closing of material contracts; and other risks described in the Company’s filings with the SEC.
The forward-looking statements or information contained in this news release are made as of the date hereof and the Company 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.
Chad D. Burkhardt
Vice President, General Counsel and Corporate Secretary
+1 (214) 265-4705
TransAtlantic Petroleum Ltd.
16803 Dallas Parkway
Addison, Texas 75001
Tudor Pickering Holt & Co. (London office)
+44 20 7268 2857