Transatlantic Petroleum to sell Albanian assets
On November 16, 2015, the Company’s Board of Directors authorized the immediate launch of a marketing process for the sale of all of the Company’s oil and gas assets and operations in Albania.
While TransAtlantic pursues the marketing process, it will continue the execution of its current operational plan focusing on low cost, high return operations. TransAtlantic does not expect to comment further or update the market with further information on the marketing process unless and until the Board of Directors has approved a specific transaction or otherwise deems disclosure appropriate or necessary. There is no assurance that this marketing process will result in the Company pursuing a particular transaction or completing any such transaction.
TransAtlantic’s current net production as of November 13, 2015 is approximately 6,500 BOEPD, and is comprised of approximately 5,800 BOEPD from Turkey and 700 BOPD from Albania.
About TransAtlantic Petroleum Ltd.
TransAtlantic Petroleum Ltd. 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, Albania and Bulgaria.