This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TransAtlantic Petroleum Announces Operating Results, 2012 Proved Reserves, And Provides An Operational Update

Stocks in this article: TAT TNP

 

U.S. dollars in thousands 2012 2011 Change (%)
Total PV-10: $511,078 $645,837 -20.9%
Future income taxes (1): (106,411) (171,592) -38.0%
Discount of future income taxes at 10% per annum: 31,213 57,522 -45.7%
Standardized measure: $435,880 $531,797 -18.0%

(1) DeGolyer and MacNaughton's reserve report does not contemplate income tax consequences. Future income taxes as displayed are estimated by TransAtlantic subsequent to DeGolyer and MacNaughton's reserve assessment.

Derivative Additions

TransAtlantic has added additional costless collar contracts since September 30, 2012. A summary of the new contracts is provided in the table below. 

Period Volume (bbl/day) Weighted Average Minimum Price ($/bbl) Weighted Average Maximum Price ($/bbl)
January 1, 2013 to March 31, 2013 436 $90.00 $121.10
April 1, 2013 to June 30, 2013 394 $90.00 $117.60
July 1, 2013 to September 30, 2013 354 $90.00 $115.10
October 1, 2013 to December 31, 2013 317 $90.00 $112.60
January 1, 2014 to March 31, 2014 266 $90.00 $110.85
April 1, 2014 to June 30, 2014 250 $90.00 $109.10
July 1, 2014 to September 30, 2014 232 $90.00 $107.35
October 1, 2014 to December 31, 2014 220 $90.00 $105.60

Conference Call

The Company expects to host a conference call on Tuesday, March 19, 2013 to discuss this operations release and TransAtlantic's Annual Report on Form 10-K for 2012 ("Form 10-K"), which the Company currently expects to file with the Securities and Exchange Commission ("SEC") by the prescribed deadline of March 18, 2013. Details of the conference call will be provided in a press release concurrent with the Form 10-K filing.  

6 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs