Case Study

TransAtlantic Petroleum Ltd.

CLIENT: TransAtlantic Petroleum Ltd.

Seaport Gordian acted as investment banker and financial advisor to the Special Committee in connection with the Company’s merger transaction.

Business Profiles

Situation

The Company needed a fairness opinion rendered regarding a proposed transaction in which the Company was to be acquired in whole by a group of its convertible preferred noteholders.

Seaport Gordian Energy served as the financial advisor to the special committee in connection with the transaction. Seaport was an integral part in assisting the Company in its evaluation of corporate and balance sheet related shareholder value enhancing alternatives and its assets as a going concern and rendering an opinion with respect to any potential sale or merger transaction. SGE also provided to the special committee a detailed financial, oil and gas reserve, and valuation analysis of the Company.

Engagement

TransAtlantic is an Addison, Texas-based, Bermuda domiciled, exploration and production company led by industry veteran Malone Mitchell III. TransAtlantic was first incorporated in 1985 and currently holds interests in developed and undeveloped properties in Turkey and Bulgaria. Seaport Gordian acted as investment banker and financial advisor to the Special Committee in connection with the Company’s merger transaction.

Outcome

A special committee comprised entirely of independent and disinterested directors of the Company’s board of directors voted unanimously to recommend the transactions to the Board, and thereafter the Board voted unanimously to approve and declare that the agreement and plan of merger detailing the transactions contemplated are procedurally fair to, and advisable and in the best interests of, the Company and its shareholders and the merger consideration is fair to, advisable and in the best interests of the Company’s shareholders, including the Company’s unaffiliated shareholders.