24 Feb 2012auditor change● Neutral
Switched its audit engagement from KPMG's Canadian practice to KPMG's US practice for fiscal 2012, without any reported disagreements over its books.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2012substantial holder notice● Neutral
Schroder Investment Management North America Ltd. Not Applicable, Schroder Investment Management Ltd. Not Applicable disclosed a new substantial TRANSATLANTIC PETROLEUM LTD. shareholding (8.82% of votes).
14 Nov 2011material agreement● Neutral
Extended repayment of its Dalea Partners credit line to March 2012 or the closing of a planned sale of its Viking oilfield-services subsidiaries, whichever came first - tying the insider loan's repayment to a divestment not yet publicly announced.
9 Nov 2011quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $33.5 million and a net loss of $6.4 million for the period ended 2011-09-30.
20 Sept 2011material agreement● Neutral
Got another short compliance-deadline extension on its Standard Bank facility, this time for Turkish regulatory approvals needed by its Amity and Petrogas subsidiaries.
25 Aug 2011material agreement● Neutral
Leased new Addison, Texas office space from Longfellow Energy - a company indirectly owned by Chairman Mitchell's family - adding another related-party contract to its books.
23 Aug 2011capital raising announcement▲ GoodMajor
Amended report on the June 7, 2011 closing of the TBNG purchase from Mustafa Mehmet Corporation: TransAtlantic paid 18.5 million common shares, certain overriding royalty interests and $10.0 million in cash (the $10.0 million option fee paid in Nov 2010 was applied toward this). It gained about 41.5% of the production and acreage of TBNG and Pinnacle (about 10.0 million cubic feet of gas per day before royalties), with Valeura taking about 40.0% and PTHC about 18.5%. The amendment itself only moves the closing disclosure from Item 2.01 to Item 8.01 and drops the financial statement requirement. This resolves the 2010-11 TBNG negotiation thread.
11 Aug 2011material agreement▲ Good
Increased its Standard Bank credit facility borrowing base to $95 million as Amity Oil formally joined as a borrower, reflecting the larger reserve base from 2010's acquisitions.
9 Aug 2011quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $31.5 million and a net loss of $21.3 million for the period ended 2011-06-30.
8 Aug 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. President and COO Gary Mize received a stock option grant for 37,313 shares.
19 July 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Executive Vice President Scott C Larsen exercised stock options for 8,997 shares and disposed of 11,756 shares.
19 July 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Vice President and Secretary Jeffrey S Mecom exercised stock options for 10,660 shares and disposed of 13,928 shares.
13 June 2011securities registration● Neutral
TRANSATLANTIC PETROLEUM LTD. filed notice of an exempt private placement.
10 June 2011asset acquisition disposition▲ GoodMajor
Closed the purchase of all TBNG shares from Mustafa Mehmet Corporation for 18.5 million shares, royalty interests and $10.0 million cash, with the earlier $10.0 million option fee applied to the price. In a simultaneous multi-party closing it got about 41.5% of TBNG and Pinnacle's production and acreage, while Valeura took about 40.0%.
19 May 2011listing compliance notice▲ GoodMajor
Replaced its original three-year Standard Bank/BNP Paribas facility with a new five-year amended and restated credit facility, using part of the proceeds to repay the $30 million bridge loan taken out for the Amity/Petrogas purchase.
10 May 2011late filing notice▼ Bad
TRANSATLANTIC PETROLEUM LTD. notified the SEC that its quarterly report would be filed late.
3 May 2011material agreement● Neutral
Extended the Valeura Energy talks over the PTI stake once more, to May 11, 2011, even as it moved ahead separately on directly acquiring TBNG.
28 Apr 2011capital raising announcement▲ GoodMajor
TransAtlantic Worldwide signed a share purchase agreement with Mustafa Mehmet Corporation to buy all of TBNG for 18.5 million shares plus 1.0%-2.5% overriding royalty interests. Separately, it extended its letter agreement with Valeura to May 2, 2011.
21 Apr 2011material agreement● Neutral
Extended the Valeura Energy negotiating window again, to April 25, 2011 - the third extension without a signed deal.
6 Apr 2011listing compliance notice● Neutral
Got a waiver on its original Standard Bank facility excusing a delay in delivering audited 2010 financial statements without a going-concern qualification, plus more time for its Q1 2011 unaudited financials.
6 Apr 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Vice President and CFO Hilda Kouvelis exercised stock options for 25,000 shares and disposed of 25,000 shares.
24 Mar 2011material agreement● Neutral
Extended its exclusive negotiating window with Valeura Energy over the PTI stake to April 4, 2011 - the second deadline push in this negotiation.
16 Mar 2011late filing notice▼ Bad
TRANSATLANTIC PETROLEUM LTD. notified the SEC that its annual report would be filed late.
8 Mar 2011material agreement● Neutral
Extended the Petrogas gas-license compliance deadline under its Standard Bank facility a third time, to April 1, 2011.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. director Bob G Alexander received a stock option grant for 7,463 shares.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. director Noah Malone Mitchell III received a stock option grant for 7,463 shares.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Vice President, Accounting Jonathan Grider received a stock option grant for 8,224 shares.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. director Brian E Bayley received a stock option grant for 7,463 shares.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. director Mel G Riggs received a stock option grant for 7,463 shares.
1 Mar 2011director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. director Alan C Moon received a stock option grant for 7,463 shares.