TransAtlantic Petroleum completes acquisition of Direct Petroleum Bulgaria.

By bne IntelliNews February 22, 2011
Canadas TransAtlantic Petroleum informed on its website that it has completed the acquisition of the local Direct Petroleum Bulgaria, part of the US company Direct Petroleum Exploration Inc. The concentration has been carried out through its subsidiaries TransAtlantic Worldwide, Ltd. and TransAtlantic Petroleum Cyprus Limited and comprises also the full stakes in Direct Petroleum Morocco, Inc. and Anschutz Morocco Corporation. TransAtlantic issued 8,924,478 of its common shares to Direct Petroleum Exploration and paid USD 2mn in cash consideration at closing in addition to USD 492,000 in cash adjustments. TransAtlantic holds interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania, and Bulgaria.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335