Past year: ▼ 73%(17.0c – 64.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2009drilling progress report● Neutral
Gave an operational update across Turkey, Morocco and Romania: a third Selmo oil field well drilling, gas sales from the Thrace Basin's Edirne field expected to start in December 2009, and one exploration well (Atesler) abandoned as a dry hole.
7 Oct 2009capital raising announcement● NeutralMajor
Completed a court-approved continuance from Alberta, Canada to Bermuda, formally renaming itself TransAtlantic Petroleum Ltd. - the identity this company's SEC record carries for the rest of its life - with 253.6 million common shares outstanding.
25 June 2009capital raising announcement● Neutral
Completed the public offering, registering for resale 56.6 million shares sold through underwriters and 41.8 million shares sold directly to Dalea (the chairman's company) - a large slice of the raise went straight to the insider lender rather than public investors.
3 June 2009capital raising announcement● Neutral
Filed a preliminary prospectus in Canada for a public share offering to fund its 2009 capital program and repay debt, expected to close around June 22, 2009.
1 June 2009material agreement● Neutral
Extended the deadline on its Dalea Partners credit line to June 30, 2009, by which point it had drawn $61.8 million from the chairman's company to fund the Incremental Petroleum takeover plus $2.8 million for general use.
4 May 2009debt financing● Neutral
Amended its credit line from Dalea Partners - a company wholly owned by Chairman N. Malone Mitchell, 3rd and his wife - trimming the loan funding its Incremental Petroleum takeover from $69 million to $62 million and adding a new $14 million working-capital tranche. Insider financing from the chairman would remain a recurring feature of this company's capital structure.
