TransAtlantic Petroleum Ltd. provided preliminary and unaudited earnings guidance for the first quarter ended March 31, 2013. For the quarter, the company expects total revenues for the quarter ended March 31, 2013 to be between approximately $33.0 million and $37.0 million, as compared to $37.5 million for the quarter ended March 31, 2012. The company expects net income to be between a net loss of approximately $2.0 million and net income of approximately $6.0 million compared to a net loss of $3.6 million for the quarter ended March 31, 2012. The company cautions that the estimation of net income is preliminary and subject to change, possibly materially.

TransAtlantic Petroleum Ltd. reported consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total revenues of $37,994,000 against $34,799,000 a year ago. Operating loss was $10,679,000 against $51,910,000 a year ago. Loss from continuing operations before income taxes was $13,993,000 against $63,449,000 a year ago. Net loss from continuing operations was $13,942,000 or $0.04 per basic and diluted share against $58,965,000 or $0.16 per basic and diluted share a year ago. Net loss was $12,227,000 against $71,739,000 a year ago. Adjusted EBITDAX from continuing operations was $22,205,000 against $17,629,000 a year ago. For the year, the company reported total revenues were $143,908,000 against $128,905,000 a year ago. Operating income was $10,505,000 against operating loss of $47,164,000 a year ago. Income from continuing operations before income taxes was $118,000 against loss from continuing operations before income taxes of $80,139,000 a year ago. Net loss from continuing operations was $6,373,000 or $0.02 per basic and diluted share against $77,574,000 or $0.22 per basic and diluted share a year ago. Net income was $16,246,000 against net loss of $120,943,000 a year ago. Net cash provided by operating activities from continuing operations was $51,970,000 against $51,007,000 a year ago. Adjusted EBITDAX from continuing operations was $87,404,000 against $66,023,000 a year ago.

On May 8, 2013, TransAtlantic Petroleum (USA) Corp. entered into an office lease effective as of April 5, 2013 with Longfellow Energy, LP to lease corporate office space located at 16803 North Dallas Parkway, Addison, Texas. TransAtlantic will lease approximately 4,696 square feet of office space from Longfellow under the Lease. The initial lease term under the Lease commenced on May 1, 2013 and expires five years after the Commencement Date, unless earlier terminated in accordance with the Lease. TransAtlantic has the option to extend the Lease term for two additional periods of five years each. If TransAtlantic exercises its option to extend the lease term, the monthly rent payable during such extended term shall be at a mutually agreed upon amount for monthly rent during the renewal term. During the first year of the initial lease term, TransAtlantic will pay monthly rent of $7,533 to Longfellow, plus utilities, real property taxes and liability insurance (to the extent that TransAtlantic does not obtain its own liability insurance). Monthly rent increases by approximately $196 each year of the initial lease term.