TransAtlantic Petroleum Ltd. is pleased to announce that on February 18, 2011, its wholly owned subsidiaries, TransAtlantic Worldwide, Ltd. and TransAtlantic Petroleum Cyprus Limited, acquired 100% of the ownership interests of Direct Petroleum Bulgaria EOOD, Direct Petroleum Morocco, Inc. and Anschutz Morocco Corporation under the terms of the previously announced purchase agreement with Direct Petroleum Exploration, Inc. (Direct). The Company issued 8,924,478 of its common shares to Direct and paid $2.0 million in cash consideration at closing in addition to $492,000 in cash adjustments.
