This acquisition has been made as per the terms of the previously announced purchase agreement with Direct Petroleum Exploration.

The company, which holds interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania, and Bulgaria, issued 8,924,478 of its common shares to Direct and paid $2m in cash consideration at closing apart from $492,000 in cash adjustments.

TransAtlantic Petroleum is a vertically integrated, international energy company engaged in the acquisition, development, exploration, and production of crude oil and natural gas.