2009-08-17-2008-01-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
0MM
Description

To farm into Ouezzane-Tissa, Asilah exploration permits with combined 3 million acres.

TransAtlantic Petroleum Corp., Calgary, (Toronto: TNP) and Longe Energy Ltd., a member of The Riata Group, New Braunfels, Texas, plan to farm into the Ouezzane-Tissa and Asilah exploration permits in northern Morocco held by Direct Petroleum Morocco Inc. and Anschutz Morocco Corp., subsidiaries of Denver-based Direct Petroleum Exploration Inc. The exploration permits cover seven blocks with a combined area of 12,287 square kilometers (3 million acres). TransAtlantic and Longe would each earn a 25% interest in the Ouezzane-Tissa and Asilah permits by carrying Direct for 100% of the costs of drilling three wells on the Ouezzane-Tissa permit. If one of the three wells is a commercial success, TransAtlantic and Longe would carry Direct in drilling a fourth well. TransAtlantic will be operator of the permits.