TransAtlantic Petroleum Ltd. provided an operational update on its current drilling program.

Operational Update

The Company increased its rig count from two to five rigs in July 2013 and significantly increased its drilling activity in accordance with its three-part strategy in Turkey.

Southeastern Turkey – Selmo Field Redevelopment

TransAtlantic recently completed the Selmo-13H (100% working interest), the first horizontal well the Company has drilled in the Selmo Field. The well was drilled to a total measured depth of 7,966 feet in 22 days at a cost of approximately $2.2 million (15% below AFE and 50% below initial engineering estimates). Initial tests indicate that the well will produce approximately 200-525 barrels of oil per day ("BOPD") from the LSD zone from a natural completion. This was TransAtlantic's first completion in the LSD zone. As a result of the success of Selmo-13H, TransAtlantic will likely add additional LSD horizontal wells to its 2013 drilling schedule. The Company also plans to drill at least four additional horizontal wells in the MSD formation of the Selmo Field this year.

Tags: TransAtlantic Petroleum Corp.