Approach

Mission Statement

TransAtlantic Petroleum is committed to utilizing North American technology to prove, define, and develop resource play potential and deliver growth for its shareholders.

Exploration

  • Prioritize opportunities and execute a balance of near-term and longer-term projects to maximize potential.
  • Acquire assets with known production or verifiable show wells.
  • Work in countries with favorable fiscal terms where we earn world market prices.
    • Turkey  
      • 12.5% royalty, no production tax
      • VAT exempt on exploration licenses, refunded on production leases
      • Oil: Brent less $3-5, Natural gas: +/- $7/mcf
      • Currently produces less than 5% of oil and gas consumed
    • Albania  
      • 12% royalty (until 1.0x payout), 13-16% royalty and 50% net profit tax thereafter
      • VAT exempt
      • Currently produces less than 60% of oil consumed, consumes all available gas
    • Bulgaria
      • 2.5% royalty (until 1.5x payout), graduated royalty thereafter to 35%
      • No production tax
      • Natural gas: +/- $9/mcf
      • Currently produces less than 5% of oil and gas consumed

Development

  • Pursue projects that will permit development from existing cash flow, without the need to tie up excessive capital building reserves.
  • Maximizing returns by reducing drilling and operating costs by efficient drilling practices, planning for scale, and partnering out risk.
  • Utilize modern technology developed in the U.S. in relation to seismic, horizontal drilling, and stimulation to enhance and commercialize production.