TRANSATLANTIC PETROLEUM LTD. (NYSEMKT:TAT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

TRANSATLANTIC PETROLEUM LTD. (NYSEMKT:TAT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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On December 5, 2016, the Board of Directors (the “Board”) of TransAtlantic Petroleum Ltd. (the “Company”) appointed Mr. Randy Rochman, age 58, and Mr. Jonathon Fite, age 42, as directors. Each of Messers. Rochman and Fite will hold office until the date of the Company’s 2017 Annual Meeting of Stockholders and until his successor shall be elected and qualified or until his earlier death, resignation, retirement, disqualification or removal. Mr. Rochman will serve on the Audit Committee, and Mr. Fite will serve on the Compensation Committee.

Randy Rochman received his B.S. in Accounting from the University of Illinois and his M.M. in Finance from Northwestern University. He is currently Chief Executive Officer of West Family Investments, Inc. Randy was previously a Vice President and held various positions within the Investment Management Division at Goldman Sachs.

Jonathon Fite received his B.S. and M.S. in Industrial Engineering from the University of Arkansas, where he graduated with honors. He is currently Managing Partner of KMF Investments Partners, LP. Jonathon was previously a strategic consultant at Accenture, advising Fortune 500 clients on key initiatives to improve shareholder value.

Messers. Rochman and Fite were each appointed to the Board to the Company’s November 4, 2016 Certificate of Designations of 12.0% Series A Convertible Redeemable Preferred Shares (the “Series A Preferred Shares”), a copy of which was previously filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on November 4, 2016. Neither Mr. Rochman nor Mr. Fite have any family relationships with any director or executive officer of the Company. Mr. Rochman is Chief Executive Officer of West Family Investments, Inc., which holds $5.0 million of the Series A Preferred Shares and $5.5 million of the Company’s 13.0% convertible notes due 2017 (the “2017 Notes”), and Mr. Rochman personally holds with his wife $750,000 of the Series A Preferred Shares and $250,000 of the 2017 Notes. Mr. Fite is Managing Partner of KMF Investments Partners, LP, which holds $3.45 million of the Series A Preferred Shares.

In consideration for their services as directors of the Company, each of Messers. Rochman and Fite will be paid the Company’s normal outside director compensation, consisting of an annual fee of $67,500, paid $25,000 in cash and $42,500 in restricted stock units issued under the Company’s 2009 Long-Term Incentive Plan.  This annual fee will be prorated for the Company’s current fiscal year.

The Company and each of Messers. Rochman and Fite will enter into the Company’s standard form of indemnification agreement for directors and officers, a copy of which was previously filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 19, 2011.


About TRANSATLANTIC PETROLEUM LTD. (NYSEMKT:TAT)

TransAtlantic Petroleum Ltd. is a holding company. The Company is an international oil and natural gas company engaged in acquisition, exploration, development and production. Its segments include Turkey and Bulgaria. The Company holds interests in approximately 880,000 and 567,000 net acres of developed and undeveloped oil and natural gas properties in Turkey and Bulgaria, respectively. The Company holds interests in over 20 onshore and offshore exploration licenses and approximately 25 onshore production leases covering a total of over 1.4 million gross acres in Turkey. All of its oil production is concentrated in southeastern Turkey, primarily in the Arpatepe, Bahar, Goksu and Selmo oil fields, and its natural gas production is concentrated in the Thrace Basin, which is located in northwestern Turkey near Istanbul. The Company holds interests in an onshore exploration license and an onshore production concession covering a total of approximately 567,110 acres in Bulgaria.

TRANSATLANTIC PETROLEUM LTD. (NYSEMKT:TAT) Recent Trading Information

TRANSATLANTIC PETROLEUM LTD. (NYSEMKT:TAT) closed its last trading session up +0.02 at 1.05 with 31,036 shares trading hands.

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