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Tuesday, July 28, 2009

TransAtlantic acquires Energy Operations Turkey (Scandinavian Oil-Gas Magazine)

"TransAtlantic acquires Energy Operations Turkey

Published Jul 27, 2009

TransAtlantic Petroleum Corp. has acquired Energy Operations Turkey, LLC (EOT) for total consideration of $7.75 million, including a $1.5 million promissory note payable in one year. EOT's assets include a 50% interest in License 3118, where in 2008 EOT participated in two oil discoveries, interests in ten other exploration licenses, inventory and seismic data. The acquisition provides TransAtlantic with the opportunity to expand its operations, achieve scale, and extend its vertical integration strategy in southeastern Turkey."

More:TransAtlantic acquires Energy Operations Turkey (Scandinavian Oil-Gas Magazine)