TransAtlantic Petroleum Ltd
16803 Dallas Parkway, Addison, Texas, United States

• Prioritize opportunities and execute a balance of near-term and longer-term projects to maximize potential.

• Work in countries with favorable fiscal terms where we earn world market prices.

• Turkey  
• 12.5% royalty, no production tax
• VAT exempt on exploration licenses, refunded on production leases
• Oil: Brent less $3-5, Natural gas: +/- $7/mcf
• Currently produces less than 5% of oil and gas consumed

• Albania  
• 12% royalty (until 1.0x payout), 13-16% royalty and 50% net profit tax thereafter
• VAT exempt
• Currently produces less than 60% of oil consumed, consumes all available gas

• Bulgaria
• 2.5% royalty (until 1.5x payout), graduated royalty thereafter to 35%
• No production tax
• Natural gas: +/- $9/mcf
• Currently produces less than 5% of oil and gas consumed

TransAtlantic Petroleum Ltd. and its subsidiaries conduct business in a manner that complies with both the letter and the spirit of the law. The Company is committed to having strong principles and the highest ethical standards in conducting its business operations. 

It is the responsibility of each employee or contractor working on behalf of the Company to promptly report actual or perceived violations of the Code of Conduct or laws. For this purpose, the Company maintains a compliance line that is operated by an independent third party. Potential violations of accounting, internal controls, financial reporting, auditing practices, and other governance issues can be reported to the compliance line via telephone twenty-four hours a day, seven days a week or through a secure internet website. 

At the request of the reporting person, reports received through the compliance line will be kept strictly confidential and anonymous. The Company will see that individuals who truthfully, in good faith, report potential violations will be protected from any adverse action for having made the report.