Ms. Tabitha Bailey reports
TRANSATLANTIC PETROLEUM ANNOUNCES THE PAYMENT OF DIVIDENDS ON ITS SERIES A PREFERRED SHARES IN COMMON SHARES
TransAtlantic Petroleum Ltd. has elected to pay the upcoming quarterly dividends on its 12.0 per cent Series A convertible redeemable preferred shares in its common shares, par value 10 cents per share, as permitted by the certificate of designation for the Series A preferred shares, in order to preserve cash for a potential drilling program in late 2019 or early 2020 in the Thrace basin's Basin Center Gas Accumulation, which is currently being tested by Valeura Energy Inc. with its partner Equinor ASA on a licence directly adjacent to the company's licences in the Thrace basin BCGA. The upcoming quarterly dividends are payable on Sept. 30, 2019, to holders of record on Sept. 15, 2019. The common shares issued as dividends on the Series A preferred shares will be listed on the NYSE American and the Toronto Stock Exchange.
The company is an international oil and natural gas company engaged in the acquisition, exploration, development and production of oil and natural gas. The company holds interests in developed and undeveloped properties in Turkey and Bulgaria.
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