TRANSATLANTIC PETROLEUM LTD. (TSE:TNP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On August 7, 2018 and effective as of June 14, 2018, TransAtlantic Petroleum (USA) Corp. (“TransAtlantic USA”), a wholly owned subsidiary of TransAtlantic Petroleum Ltd. (the “Company”), entered into a sublease agreement (the “Sublease”) with Longfellow Energy, LP (“Longfellow”) to lease corporate office space located at 16803 North Dallas Parkway, Addison, Texas. The Sublease was approved by the audit committee of the board of directors.
TransAtlantic USA subleases approximately 10,000 square feet of corporate office space in Addison, Texas. The initial lease term under the Sublease commenced on June 14, 2018 (the “Commencement Date”) and expires on June 30, 2020, unless earlier terminated in accordance with the Sublease. From the Commencement Date until June 30, 2019, TransAtlantic USA is required to pay monthly rent of $18,333.33 to Longfellow, plus utilities, real property taxes, and liability insurance (to the extent that TransAtlantic USA does not obtain its own liability insurance). The monthly rent increases by $416.67 for the period commencing June 30, 2019 and ending June 30, 2021.
The foregoing description of the Sublease is qualified in its entirety by reference to the Sublease, which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 1.02 Termination of Material Definitive Agreement.
to the Sublease, effective as of June 14, 2018, TransAtlantic USA and Longfellow agreed to terminate the Amended and Restated Office Lease, dated June 26, 2017, by and between TransAtlantic USA and Longfellow (the “Office Lease”).
A description of the Office Lease is included in the Company’s Form 10-Q, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 9, 2017 (the “August 9, 2017 Form 10-Q”). The description of the Office Lease is qualified in its entirety by reference to the full text of the Office Lease, which was filed as Exhibit 10.1 to the August 9, 2017 Form 10-Q and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
TRANSATLANTIC PETROLEUM LTD. ExhibitEX-10.1 2 tat-ex101_6.htm EX-10.1 tat-ex101_6.htm Exhibit 10.1 SUBLEASE AGREEMENT 16803 Dallas Parkway This Sublease Agreement (the “Sublease”),…To view the full exhibit click here
About TRANSATLANTIC PETROLEUM LTD. (TSE:TNP)
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.
