TransAtlantic Petroleum Announces Strategic Alternatives Update
October 03 2018 - 5:10PM
TransAtlantic Petroleum Ltd. (TSX: TNP) (NYSE
American: TAT) (the “Company” or “TransAtlantic”) today announced
the following update regarding its strategic alternatives process.
Strategic Alternatives
Process
During the third quarter of 2018, the Company
received a formal offer from N. Malone Mitchell 3rd, the Company’s
Chief Executive Officer and Chairman of the Board of Directors, on
behalf of The Mitchell Group to acquire the entire company subject
to certain conditions. The Company is in discussions with Mr.
Mitchell regarding the proposed offer and the parties are
continuing the process to enter into a letter of intent during the
fourth quarter of 2018. There is no assurance that the
Company will enter into a letter of intent or definitive agreement
with Mr. Mitchell or any other party. The Company will
provide a further update at the appropriate time.
About TransAtlantic
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.)
Forward-Looking Statements
This news release contains statements concerning
the Company’s strategic alternatives process as well as other
expectations, plans, goals, objectives, assumptions, and
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.
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 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.
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.
Contacts:
Chad D. BurkhardtVice President, General Counsel
and Corporate Secretary(214) 265-4705
TransAtlantic Petroleum Ltd.16803 Dallas
ParkwayAddison, Texas
75001http://www.transatlanticpetroleum.com
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