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TransAtlantic Agrees to Farm-in to Blocks in Morocco

07-09-2008

TransAtlantic Petroleum Corp. announced today the Company and Longe Energy, Ltd. ("Longe") have agreed to farm-in to the Ouezzane-Tissa and Asilah exploration permits held by Direct Petroleum Morocco, Inc. and Anschutz Morocco Corporation (collectively, "Direct") in northern Morocco. The Direct exploration permits cover seven blocks with a combined area of 12,287 square kilometers (3,036,068 acres).

Under the farm-in agreement, the Company and Longe would each earn a 25% interest in the Ouezzane-Tissa and Asilah exploration permits by carrying Direct for 100% of the costs of drilling three wells on the Ouezzane-Tissa permit. If one of the three wells is a commercial success, as defined in the farm-in agreement, then the Company and Longe would carry Direct in the drilling of a fourth well.

The Company will become the operator of the Ouezzane-Tissa and Asilah exploration permits, subject to government approval.

Longe Energy, Ltd. is part of the Riata group of companies, and Direct Petroleum Morocco, Inc. and Anschutz Morocco Corporation are wholly-owned subsidiaries of Denver, Colorado-based Direct Petroleum Exploration, Inc.