Exhibit 99.1

 

 

TransAtlantic Petroleum Announces Third Quarter 2017 Financial Results and Provides an Operations Update

 

Hamilton, Bermuda (November 8, 2017) – TransAtlantic Petroleum Ltd.

(TSX: TNP) (NYSE American: TAT) (the “Company” or “TransAtlantic”) today announced the financial results for the quarter ended September 30, 2017 and provided an operations update. Additional information can be found on the Company’s website at http://www.transatlanticpetroleum.com.

Summary

 

As of September 30, 2017, the Company had no long-term debt and $12.4 million in short-term debt, as compared to $3.8 million in long-term debt and $38.2 million in short-term debt as of December 31, 2016. During the quarter ended September 30, 2017, the Company repaid $14.1 million in debt as it continues to focus on deleveraging its balance sheet.

 

 

Revenues for the third quarter of 2017 were $12.7 million, as compared to $12.3 million for the second quarter of 2017 and $16.7 million for the third quarter of 2016.

 

 

The Company’s operating loss for the third quarter of 2017 was $0.3 million, as compared to operating income of $2.1 million for the second quarter of 2017 and operating income of $1.0 million for the third quarter of 2016.

 

 

Net loss from continuing operations was $4.4 million for the third quarter of 2017, as compared to net income of $0.6 million in the second quarter of 2017, and a net loss of $4.6 million in the third quarter of 2016.

 

 

Adjusted EBITDAX from continuing operations for the third quarter of 2017 was $7.3 million, as compared to $6.8 million for the second quarter of 2017 and $12.8 million for the third quarter of 2016.1

 

 

The Company’s average daily net sales volumes from continuing operations were approximately 2,862 barrels of oil equivalent per day (“Boepd”) in the third quarter of 2017,

 

 

1 

Adjusted EBITDAX is a non-GAAP financial measure.  See the reconciliation at the end of the press release.  

1

 


The following information was filed by Transatlantic Petroleum Ltd. (TAT) on Wednesday, November 8, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Transatlantic Petroleum Ltd.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Transatlantic Petroleum Ltd..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account