DISSEMINATION IN THE UNITED STATES/

CALGARY, June 4 /CNW/ - TransAtlantic Petroleum Corp. (the "Corporation" or "TransAtlantic" - TNP - TSX) is pleased to announce that it has priced its previously announced public offering (the "Offering") of common shares of TransAtlantic (the "Common Shares"). Pursuant to the Offering, the Corporation will issue 91,000,000 Common Shares at a price of Cdn$1.65 per Common Share for gross proceeds to the Corporation of Cdn$150 million.

The offering of 49,182,000 Common Shares (Cdn$81 million) will be conducted through a syndicate of underwriters led by Canaccord Capital Corporation and including Genuity Capital Markets (the "Underwriters"). An additional 41,818,000 Common Shares (Cdn$69 million) will be issued to Dalea Partners, LP, an entity controlled by the Chairman of the Corporation's board of directors, N. Malone Mitchell, 3rd. 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 7,377,300 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 98,377,300 Common Shares will be sold under the Offering for total gross proceeds of the Offering of approximately Cdn$162.3 million. Upon closing of the Offering, and not including Common Shares issuable pursuant to the over-allotment option, the Corporation will have 246,109,366 Common Shares issued and outstanding.

The net proceeds of the Offering will be used towards the Corporation's 2009 capital expenditure program, to repay outstanding indebtedness and for general corporate purposes.

The Common Shares will be sold publicly in Canada in the Provinces of Ontario, Alberta and British Columbia and in accordance with Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act") and on a private placement basis in the United States pursuant to exemptions from the registration requirements of the 1933 Act and such other jurisdictions as may be agreed to by the Corporation and the Underwriters. The Offering is scheduled to close on or about June 22, 2009 and is subject to certain customary conditions and regulatory approvals, including the approval of the Toronto Stock Exchange.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.