Form 8-K/A TRANSATLANTIC PETROLEUM For: Nov 18

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Go back to Form 8-K/A TRANSATLANTIC PETROLEUM For: Nov 18

TransAtlantic Petroleum (TAT) Sees FY15 Capital Budget at $38M

February 3, 2015 4:11 PM EST

TransAtlantic Petroleum (NYSE: TAT) announced a corporate update, a preliminary 2015 capital expenditure budget and an update on its operations.

Corporate Update

TransAtlantic presently holds $35 million of cash on hand and a portfolio of commodity derivative contracts with a present value of approximately $40 million at a Brent crude oil price of $50 per barrel. The Company has hedged approximately 1.5 million barrels of Brent crude oil at a weighted average minimum price of $85 per barrel for the period Q1 2015 through Q1 2019. TransAtlantic intends to reserve its cash flow from commodity derivatives to repay... More