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TransAtlantic Petroleum (TAT), an energy company active in Eastern Europe and Turkey, +12.2%...

  • Tuesday, February 28, 2012, 8:37 AM ET
    TransAtlantic Petroleum (TAT), an energy company active in Eastern Europe and Turkey, +12.2% premarket after announcing it has secured a non-binding letter of intent to sell its oilfield services business to Dalea Partners and Middle East PE firm Abraaj Capital for $164M. TAT plans to use proceeds to pay down debt.
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    TAT has snatched defeat from the jaws of victory. They have destroyed the stock's price. This sale will increase their drilling costs by a huge amount. A sad story. Yes, I am long TAT.
    28 Feb 2012, 10:53 AM Reply Like
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