Dalea Partners, LP and Longfellow Energy LP Announce Acquisition of Common Shares of TransAtlantic Petroleum Corp.

OKLAHOMA CITY, OK--(Marketwire - December 31, 2008) - Dalea Partners, LP ("Dalea") and Longfellow Energy LP ("Longfellow") announced today that on December 30, 2008, Dalea, Longfellow and Riata TransAtlantic LLC ("Riata TransAtlantic") acquired an aggregate of 73,965,000 common shares (the "Acquired Shares") of TransAtlantic Petroleum Corp. ("TransAtlantic") and 10,000,000 warrants, each of which entitles the holder to acquire one common share of TransAtlantic at a price of US$3.00 until December 30, 2008. The Acquired Shares represent approximately 47.7% of the issued and outstanding common shares of TransAtlantic immediately following the acquisition and before any exercise of the Acquired Warrants (the "Acquired Warrants").

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