TransAtlantic Petroleum Announces Expected Filing Of First Quarter 2013 Financial Results

HAMILTON, Bermuda, May 16, 2013 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE-MKT:TAT) (the "Company") today announced that it expects to file its Quarterly Report on Form 10-Q for the three months ended March 31, 2013 (the "Form 10-Q") during the week of May 20, 2013.

During the preparation of the Company's financial results for the year ended December 31, 2012, the Company identified errors in previously reported amounts in prior accounting periods. As a result, the Company's filing of its Annual Report on Form 10-K for the year ended December 31, 2012 (the "Form 10-K") was delayed until May 16, 2013. The Company reasonably expects to file its Form 10-Q during the week of May 20, 2013. While the financial statements for the three months ended March 31, 2013 are substantially complete, the delay in completing the financial statements and disclosures to be contained in the Form 10-Q is due to the diversion of time and resources to the completion of the financial statements and disclosures in the Company's Form 10-K. As a result, the Company needs additional time to complete and review its financial statements and disclosures to be contained in the Form 10-Q.

About TransAtlantic

TransAtlantic Petroleum Ltd. is an international energy company engaged in the acquisition, development, exploration and production of oil and natural gas. The Company holds interests in developed and undeveloped oil and natural gas properties in Turkey and Bulgaria.

(NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)

Forward-Looking Statements

This news release contains statements regarding the expected reporting of financial results and other expectations, plans, goals, objectives, assumptions or information about future events, conditions, results of operations or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, the ability of the Company to continue to develop and exploit attractive foreign initiatives.

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