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TransAtlantic Turns on Taps in Turkey's Bahar Field

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   |    Tuesday,September 23,2014

TransAtlantic Petroleum Ltd. has provided an update on its recent well results in Turkey.

Southeastern Turkey -- Molla Drilling Program

TransAtlantic recently completed several wells in its Bahar field. Well locations were selected using 3D seismic from the Company's 872 km2 (337 mile2) seismic program in 2013-2014, which was the largest in Turkey's history.

The Bahar-4 (100% working interest) had an initial production rate of more than 500 BOPD from its upper Bedinan zone at a depth of approximately 10,000 feet, and has produced an average rate of 450 BOPD during its initial seven days of production.

The Bahar-3 (100% working interest) had an initial production rate of more than 400 BOPD from its upper Bedinan zone, which produced an average rate of 350 BOPD during its initial seven days of production. Combined with production from the lower Bedinan zone, at a depth of approximately 10,550 feet, the average production rate for the Bahar-3 during the most recent 7 days is 470 BOPD. The Bahar-3 and Bahar-4 are currently flowing up casing. TransAtlantic expects to install production tubing on both wells in October 2014.

The Bahar-2ST (100% working interest) has been completed in the Hazro zone and is currently on a pump test.

Southeastern Turkey -- Şelmo Field Development

TransAtlantic is currently completing the Şelmo-68H3 (100% working interest), in the MSD zone. In July 2014, the Company completed the Şelmo-85H1 (100% working interest), which produced an average rate of 320 BOPD during its initial 60 days of production. In June 2014, TransAtlantic completed the Şelmo-54H1 (100% working interest), which produced an average rate of 660 BOPD during its first 90 days. Average production for the initial 120 days of production from the Şelmo-84H2 (100% working interest) and Şelmo-86H2 (100% working interest) have been 370 BOPD and 375 BOPD, respectively.

Northwestern Turkey -- Thrace Basin Development

The Company recently completed the TDR-5H (41.5% working interest), a horizontal well targeting the Teslimkoy formation. The well had an average initial production rate of 1.5 MMCFPD during its first 20 days.

TransAtlantic also successfully recompleted a discovery well in the Gocerler field (50% working interest), which tested 4.0 MMCFPD. The well is the Company's first completion in the Soğucak limestone reef reservoir. All of TransAtlantic's previous Thrace Basin completions have been in sandstone reservoirs. This discovery has increased the Company's interest in developing the limestone reef trend in the central Thrace Basin.

TransAtlantic is drilling a five-well campaign of shallow, conventional, vertical wells (41.5% working interest) in the Osmanlı area based on 3D seismic shot in the fourth quarter of 2013. The first vertical well tested 1.5MMCFPD. The Company recompleted two vertical wells into the Teslimkoy formation that have produced an average of 535 MCFPD in their initial 30 days of production.