TransAtlantic Petroleum Ltd. farm - inPermian Basin, Poland

March 2014

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2

Contents

Transaction Overview

Transaction Terms

SLE Permian Basin Acreage and Past

Operations

TransAtlantic Petroleum Ltd.

Upcoming operations

Rotliegend/Zechstein Limestone

conventional gas play: Rawicz Field

Main Dolomite oil resource play: Lelechow

SL-1, Czaslaw SL-1, Jany-C1

Carboniferous tight gas play: Siciny-2

Summary

Permian Basin

Nowa Sol

Wschowa

Gora

Rawicz

Prusice

Kotlarka

Olesnica

Praszka

Wielun

Farm – in concessions:

3

Transaction Terms

4

In order to earn a 50% interest in each of the nine concessions TransAtlantic will

carry San Leon and Hutton Energy (“Hutton”) for 100% of the costs of six drilling

and completion operations in the Permian Basin trend of Poland targetting three

different plays:

Rotliegend sandstones - 1 well in the Rawicz gas field, Rawicz Concession – aiming

for near term production on this previously discovered field.

Main Dolomite - 3 completion operations in each of Lelechow SL-1, Czaslaw SL-1,

Jany-C1, Nova Sol Concession, previously drilled by San Leon, targeting the Main

Dolomite reservoir – these operations will be designed to test the reservoir sections

with a combination of horizontal legs and fracture stimulation.

Carboniferous sandstones - a fracking operation at the previously drilled Siciny-2

well, Gora Concession – this will test the previously logged 300 m tight gas sand at

Siciny.

1 additional well - the location of which will be subject to early results.

This work program is aimed at establishing production in a proven hydrocarbon

basin.

Permian Basin

5

9 concessions in the deal: Nowa Sol, Wschowa,

Gora, Rawicz, Prusice, Kotlarka, Olesnica, Praszka,

Wielun; 1,950,000 acres

Three plays to be tested:

Rotliegend conventional gas play:

• 57 Bcf of gas* ERR• Undeveloped conventional gas field in proven producing trend

Main Dolomite unconventional oil play:

• 20 MMbbl/Section OIIP• 3 wells to be completed; Lelechow SL-1, Czaslaw SL-1,

Jany C1

Carboniferous unconventional gas play:

• >270 Bcf/Section** GIIP in Carboniferous tight sandstone and shales; 61 Tcf cumulative ERR***

• Siciny-2 well to be fracked

* Gas reserves in this presentation were not discounted for N2 and CO2 content

** section = sq. Mile

*** ERR = estimated recoverable resources

Lelechow SL-1

Czaslaw SL-1

Siciny 2

Rawicz

Jany C1

6

ZALECZE -

WIEWIERZ

760 Bcf

RAWICZ (SLE)

57 BcfZUCHLOW

847 Bcf

Over 7 Tcf of gas discovered in

Rotliegend in Poland

A number of Main Dolomite oil

fields in trend

Existing gas pipelines and

processing infrastructureBogdaj - Uciechów

635 Bcf

Wierzchowice

422 Bcf

Permian BasinDiscovered Fields and Infrastructure

Permian Basin

7

SLE Past Operations

3 Main Dolomite oil

wells

1 Carboniferous gas

well

592km2 3D: Nowa Sol;

Siciny; Rawicz

689km 2D: Wielun -

Olesnica - Praszka;

Wschowa

Nowa Sol 3D

Siciny 3D

Rawicz 3D

Wielun – Olesnica - Praszka 2D

Wschowa 2D

Lelechow SL-1

Drilled: 2012

TVD to Main Dolomite: 1105 m

Result: oil

Status: suspended

Czaslaw SL-1

Drilled: 2012

TVD to Main Dolomite: 1177 m

Result: oil/gas

Status: suspended

Jany C-1

Drilled: 2013

TVD to Main Dolomite: 1858 m

Result: oil

Status: suspended

Siciny-2

Drilled: 2012

TVD to Carboniferous

tight sandstone: 3100 m

Result: gas

Status: suspended

Upcoming Operations

8

Main Dolomite – 3 existing wells with

oil to be completed with combination of

horizontal legs and fracking

Rotliegend Sandstones – Rawicz well

in the discovered gas field to be drilled

to Rotliegend sandstones following

successful 3D program undertaken by

SLE in 2012. First well fully permitted

and ready to spud within 2 months

Carboniferous Sandstones – Siciny-2

well to be fracked to test Carboniferous

tight sandstones. Site fully permitted

and ready to Frac, the DFIT having

already been performed

Final well location will be determined

subject to early results

TransAtlantic Petroleum Ltd.

9

Background*

■ TransAtlantic Petroleum is committed to utilizing North American technology to prove, define, and develop resource

play potential and deliver growth for its shareholders.

■ Its approach is to acquire assets with known production or verifiable “show” wells and to work in countries with

favourable fiscal terms where it will earn world market prices.

Strategy*

■ TransAtlantic brought unconventional North American technology to Turkey.

■ Utilize modern technology developed in the U.S. in relation to seismic, horizontal drilling, and stimulation to enhance

or commercialize production.

Drilling and completions*

■ TransAtlantic has drilled 31 horizontal and deviated wells in Turkey to date

■ TransAtlantic has undertaken 158 hydraulic fracks in Turkey to date with up to 10 stages per well

■ TransAtlantic has increased its production in Turkey from 0 BOEPD to over 8,480 BOEPD between 2008 and end

2013

■ 33+ wells targeted to be drilled in Europe in 2014

TransAtlantic has successfully undertaken more hydraulic fractures than any other E&P

company in Europe*Information sourced from Transatlantic website

Rotliegend/Zechstein Limestone Conventional Gas

10

Rawicz Field

■ >7 Tcf of conventional gas

discovered in Rotliegend in

Poland

■ Upper Rotliegend dune

sandstones - one of the best

reservoir rocks in Poland

■ With modern 3D seismic SLE

identified 2 new prospects

and mapped undeveloped

Rawicz field

■ Near term production: 70

Bcf ERR in 3 undeveloped

fields

■ Multiple leads and prospects

Slupia prospect

Rawicz field

Kandlewo

prospect

Zbarzewo leads

Dobrzen

field

Henrykowice

field

Syców

lead

Wielun

lead

11

Rawicz Rotliegend

P90: 1410 – 1354 m ss

P10: 1440 – 1354 m ss

Rawicz 5

DST: 0.61 MMcfd

Phi: av. 10.5%Rawicz 7

Flow test: 0.5 MMcfd

Phi: av. 8.5%

Debno 1

DST: small gas flow

Phi: av. 10.4%

Rawicz 8

blow out in Ca2

Proposed

well location

Rawicz 11

DST P1: „no

permeability”

Rawicz 9

DST: water with gas

P10

P90

Reservoir: Rotliegend Sandstones

Estimated Recoverable Reserves: 57 Bcf

Gas composition: 70% CH4

Discovered by POGC in late 70s

Gas flow established and measured in 2 wells

(Rawicz-5: 0.61 MMcfd; Rawicz-7: 0.5

MMcfd)

Reservoir modeling done by SLE showed that

with modern drilling techniques much higher

flow rates should be achieved.

Existing nearby infrastructure

Uphole Potential – Main Dolomite Sweetspots

Secondary targets for wells primarily targeting Rotliegend gas prospects

Estimated recoverable reserves:

Rawicz: 1.5 MMbbl oil; 0.1 MMbbl condensate; 9.57 Bcf gas

Slupia: 0.77 MMbbl oil; 0.07 MMbbl condensate; 4.85 Bcf gas

Reservoir properties: porosity Slupia 5.7 – 10%; Rawicz 6.9 – 10%;

permeability 0.1 mD – very good fracture permeability

Rotliegend/Zechstein Limestone Conventional GasRawicz Field

Rawicz

Main Dolomite Oil Resource Play

12

Main Dolomite historical production Most wells in area had HC shows

Small fields, generally < 1 MMbbl

Producing fields related to structural highs, perm enhanced

with fractures

Overbalanced drilling, likely significant reservoir damage

Wells usually stimulated with small acid wash, likely causing

further damage

Over 1.3 million acres with Main

Dolomite Resource play potential

Potential for 4 Billion barrels

Resource play – way forward 20 – 40 MMbbl/section in place; 1,000 bbl/day potential

Test “North American” style tight oil technology

underbalanced drilling

horizontal wells

hydraulic fracturing

Frack and test 3 existing wells, Lelechow SL-1,

Czaslaw SL-1, Jany-C1 and add horizontals if

requiredOpen Fractures

Siciny - 2Rogożewo - 1

Marcinki IG - 1Wieluń - 3

Carboniferous Tight Gas Play

13

■ Carboniferous shales sourced at least 7 Tcf of

gas discovered in Rotliegend

■ Only few wells drilled in 1970s and 80s

penetrated more than 100 m of Carboniferous

■ In 2011 SLE drilled Siciny-2 well which

confirmed existence of 320 m gas column in

Carboniferous sandstones

■ In the course of drilling, 3 shale gas and 2

tight gas zones were discovered

■ Siciny-2 wireline log analysis shows

>200 Bcf/Section GIIP in tight sand, with

upside of 70 Bcf/Section GIIP in shale

■ Well correlation suggests that simillar rocks

extend across all licences

■ This yields a risked 61 Tcf net recoverable

resource

Siciny-2:

Drilled to 3 520 m, TVD: 3 398 m (Feb 2012)

1361 m of Carboniferous penetrated

450 Bcf/sec of Total GIP

2 Tight Gas Zones: Sandstone A and Sandstone B

3 Potential Shale Gas Zones

Tight sandstone A

3 200 – 3 520 m (320 m)

Effective porosity: 3 – 7% (av. 3.86)

Permeability: 20 – 200 nD (av. 100 nD) + fracture

permeability (DFIT: 0.026 mD)

Ave. gas saturation: 74%

Clay content: 24 – 51% (<15% of clay minerals is smectite)

Siciny 2

Carboniferous Tight Gas PlaySiciny - 2

14

15

Project Description License Target Rationale Potential

Next steps

Siciny-2 Frac and test Gora CarboniferousTest the Carboniferous

sandstone potential

Drill delineation well

Reshoot parts of

Siciny 3D

RawiczDrill vertical well

and testRawicz

Rotliegend/Main

Dolomite

Prove ~57 Bcf Rawicz

gas field, and put on

production

Drill horizontal

delineation/

production well in

Rawicz field

Czaslaw SL-1,

Lelechow SL-1

and Jany-1

Complete with

fracs on either

vertical or

horizontal leg(s)

Nowa Sol Main Dolomite

Test Main Dolomite and

put on production

Confirm resource play

potential

Drill further

prospects

1 well*

Horizontal or

vertical drill-well,

horizontal or

vertical multi-

stage frac

Nowa Sol/

Gora/Rawicz

Rawicz/Main

Dolomite/

Carboniferous

Geological target will be

selected based on

results of Siciny–2,

Rawicz or Czaslaw SL–1

/ Lelechow SL–1

operations

Production

Summary - TransAtlantic 2014 Farm-in

Siciny - 2Rogożewo -

1

Marcinki IG - 1 Wieluń - 3

16

Dobrzen

field

Henrykowice W

field

Rawicz field

Rawicz/Slupia

prospects

Nowa Sol

3D

prospects

+

Lelechów

field

Bugs

prospect

Wielun

fold

lead

Sycow

fold lead

Siciny 2

Mallorca,

Kandlewo

prospects

Summary - TransAtlantic 2014 Farm-in

9 concessions in the deal: Nowa Sol,

Wschowa, Gora, Rawicz, Prusice, Kotlarka,

Olesnica, Praszka, Wielun; 1,950,000

acres

Three plays to be tested:

Rotliegend conventional gas play:

• 57 Bcf of gas* ERR• Undeveloped conventional gas field in proven

producing trend

Main Dolomite unconventional oil play:

• 20 MMbbl/Section OIIP• 3 wells to be completed; Lelechow SL-1,

Czaslaw SL-1, Jany C1

Carboniferous unconventional gas play:

• >270 Bcf/Section** GIIP in Carboniferous tight sandstone and shales; 61 Tcf cumulative ERR***

• Siciny-2 well to be fracked

* Gas reserves in this presentation were not discounted for N2 and CO2 content

** section = sq. Mile

*** ERR = estimated recoverable resources