On November 5, 2009, TransAtlantic Petroleum Ltd. (the “Corporation” or “TransAtlantic”) announced the pricing of its previously announced offering (the “Offering”) of common shares of TransAtlantic (the “Common Shares”). Pursuant to the Offering, the Corporation will issue 42,554,000 Common Shares at a price of Cdn$2.35 per Common Share for gross proceeds to the Corporation of approximately Cdn$100.0 million.

Pursuant to the terms of the Offering, the Corporation has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 5,744,790 Common Shares, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering. If the over-allotment option is exercised in full, a total of 48,298,790 Common Shares will be sold under the Offering for total gross proceeds of the Offering of approximately Cdn$113.5 million.

The net proceeds of the Offering will be used towards the Corporation’s 2010 capital expenditure program, for repayment of indebtedness and for general corporate purposes.

The Offering is scheduled to close on or about November 23, 2009 and is subject to certain customary closing conditions and regulatory approvals, including the approval of the Toronto Stock Exchange.

This notice shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares offered have not been registered under the 1933 Act, or any state securities laws and may not be offered or sold in the United States or to a U.S. person absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 6, 2009

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