TransAtlantic Petroleum: Exercise of Option to Acquire Thrace Basin Natural Gas and Pinnacle Turkey

Oil and Gas Investing

TransAtlantic Petroleum Ltd. (TSE:TNP,AMEX:TAT) announces has exercised the option under the Option Agreement to acquire Thrace Basin Natural Gas Turkiye Corporation and Pinnacle Turkey, Inc.

TransAtlantic Petroleum Ltd. (TSX:TNP,AMEX:TAT) announces has exercised the option under the Option Agreement to acquire Thrace Basin Natural Gas Turkiye Corporation and Pinnacle Turkey, Inc.

The press release is quoted as saying:

Total consideration for the acquisition will be $100.0 million in cash and the issuance of 18.5 million shares of TransAtlantic Petroleum Ltd. common stock. The effective date of the acquisition will be October 1, 2010.

Click here to access the entire press release

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