TransAtlantic Petroleum Ltd. Announces Third Quarter 2011 Earnings and Operations Update

TransAtlantic Petroleum Ltd. (TSX:TNP) reported results for the quarter ended September 30, 2011.

As quoted in the press release:

Selected 3Q11 Highlights

• Daily average sales in the third quarter of 2011 increased 74% over the same period in 2010 and 25% over the second quarter of 2011;

• Third quarter 2011 adjusted EBITDAX from continuing operations totaled $20.3 million (EBITDAX is a non-GAAP measure and is defined and reconciled later in this press release);

• Year-end 2011 production target reiterated at 7,000-7,500 boe per day;

• Executed a farm out agreement with LNG Energy covering a portion of TransAtlantic’s leasehold in Bulgaria and commenced drilling our first test of the Etropole shale;

Click here to read the TransAtlantic Petroleum Ltd. (TSX:TNP) press release.