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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Don Richards who wrote (1433)	6/23/1999 4:11:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

WOW that was a small time line ! TRANSATLANTIC BEGINS DRILLING PROGRAM IN EGYPT CALGARY, ALBERTA-- TransAtlantic Petroleum Corp. (TSE:TNP.U) is pleased to announce the commencement of its drilling program on the West Gharib Block, onshore Gulf of Suez, with the spudding of the Hana-1 test well. Upon completion and testing of the Hana-1 well (within 4 to 5 weeks) the Egyptian Drilling Company Rig No. 17 will relocate to drill the Farha-1 prospect located 15 kilometers to the south of Hana-1. Both wells will be drilled to a total depth of approximately 6,000 feet, with the Miocene Rudeis Sand as the primary target. In 1998 the Rudeis Sand yielded two major offshore discoveries by Amoco and Pennzoil that tested 18,800 and 6,000 barrels of oil per day, respectively. The new Amoco SG310 field is currently producing 25,000 barrels of oil per day. In September, 1999 the Company expects to spud the first of four wells in its Central Sinai Concession, also located in the Gulf of Suez basin. Both of the Company's concessions are within the prolific Gulf of Suez rift basin which holds over 6 billion barrels of reserves and produces 800,000 barrels of oil per day. The Company's current exploration program is based on extensive geological and geophysical studies resulting from 2D and 3D seismic programs conducted during 1998 and 1999. Several additional prospects and leads in each concession have been confirmed for future evaluation. TransAtlantic, through its wholly-owned subsidiaries, is engaged in the exploration, development and production of crude oil and natural gas in Nigeria, Egypt, Tunisia and in the USA. The Company currently has 62.9 million common shares outstanding. (NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.) Contacts: Barry D. Lasker - (713) 626-9373 G. Wade Stubblefield - (713) 626-9373 Internet: tapcor.com -End-