DESCRIPTION: TransAtlantic Petroleum Ltd. is a vertically integrated, international energy company engaged in the acquisition, development, exploration and production of crude oil and natural gas. The company holds interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania and California. TransAtlantic owns its own drilling rigs and oilfield service equipment, which it uses to develop its properties in Turkey and Morocco. In addition, the company provides oilfield services and contract drilling services to third parties in Turkey and plans to provide similar services in Morocco.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"Global Hunter Securities initiates coverage of TransAtlantic Petroleum Ltd. with a Buy rating, PT $5. Transatlantic Petroleum continues its metamorphosis that began in 2008, largely due to the involvement of Malone Mitchell 3rd, who capitalized the company and converted the company from a prospect generator to a vertically integrated project developer. To date, Mitchell and his entities have invested CDN$187.3M+ committed to a $130M bridge loan ($100M for Zorlu transaction plus $30M for equipment) and beneficially own 51.3% of the company. Key to the building blocks of TAT have been the purchases of Incremental Petroleum, EOT Resources and Amity Oil (Zorlu) while building a services business."
Neal Dingmann, Wunderlich Securities
(07/14/10)
"We are convinced that upcoming catalysts could ramp [TransAtlantic's] production over the next several quarters and boost reserves. Our confidence comes from our expectation that the Zorlu acquisition, along with the rest of the Thrace Basin, could provide solid production to accompany potentially big wells in SE Turkey. In addition, we believe Chairman Malone Mitchell and his team are [among] the most talented in the business. We reiterate our Buy rating and $5 share price target."
Paulina Lichwa, mergermarket (07/06/10)
"Canadian TransAtlantic Petroleum's decision to buy Turkish energy company, Zorlu Enerji Elektrik Uretim's Zorlu Petrogas and Amity Oil assets for US$96.5m demonstrates the region's increasing importance as a major corridor for new oil and gas markets.
Turkey, which shares a border with Iraq, a potential new big source for oil and gas supply, is may also play host to the two major regional developments, namely the Nabucco pipeline, which would run from Asia to Europe, relieving it of Russian dependence, and also the proposed South Stream pipeline running from Russia through the Black Sea to Bulgaria.
But Turkey’s large population also big internal energy demands, making access to producing assets very important. These facts seem to be attracting Canadian TransAtlantic's CEO, Matthew McCann, who told mergermarket earlier this year that, that the company—which already has assets in Morocco, Romania and California—would focus on Turkey in 2010."
Neal Dingmann, Wunderlich Securities
(05/26/10)
"We were on the road with TransAtlantic Petroleum Corp. (TAT) management and came away believing there is production upside over the next several quarters. As a result, we are increasing our price target to $5.00 per share from $4.25 as we move to a cash flow based model (versus net asset value previously), now that we have more confidence in our forecasted production through 2011. However, we still believe that the assets are worth at least $4.25 per share, providing upside over the current share price. A big part of our production upside confidence is derived from the Zorlu acquisition being completed and continued developmental and exploration successes."
The Energy Report Interview with Adam Michael (05/13/10)
"TransAtlantic Petroleum Ltd. is a company I'm really excited about. You have a company that at the bottom of the market put together a land package of several million acres in Turkey. They added a couple million acres in Morocco and another 700,000 or so in Romania. TransAtlantic now has a producing asset, the Selmo oil field, that gives it some good cash flow. It has also identified a couple of other areas that are very prospective for both conventional and unconventional natural gas. And it has a new gas play that just started producing in a gas field called the Thrace Basin, where the wells literally pay out in three to six months. I don't even know if they've ever fracked a well in Turkey.
TransAtlantic Chairman Malone Mitchell and his company have a long history of applying modern technology domestically. TransAtlantic has not only gone to Turkey and put together a great land package, but they're also taking their expertise and technology to places where they can lock up enormous acreage positions. I think it could get really exciting when you apply that technology, especially in the Thrace Basin where it looks like TransAtlantic has some tight gas opportunity. As well as in the Paleozoic trend where there are a couple of areas, especially near Arpatepe, Turkey, that look like they could be perfect for fracking or horizontal drilling. It's really that combination of strong management, applying the right technologies and then having the real estate in the right areas. We're still at the very early innings of what TransAtlantic is doing there."
View Entire Article: Adam Michael: Exciting International Oil and Gas Opportunities
TransAtlantic Among Market News Video's Top Gainers (4/14/10)
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