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News Breaks | | | | March 18, 2013 | | 09:27 EDT |  | TAT | TransAtlantic Petroleum announces delay in filing annual report on Form 10-k
TransAtlantic Petroleum announces the company's intent to file a Form 12b-25 to provide an additional fifteen days to file its Annual Report on Form 10-K for the year ended December 31, 2012. On Thursday, March 14, the company identified prior period errors that relate to the allocation of well costs to the company's depletion schedule during the years 2009, 2010, and 2011. The prior period errors identified have resulted in the understatement of depletion expense during 2009, 2010, 2011, and 2012. Depletion is a non-cash expense. The company, in conjunction with its independent registered public accounting firm, is currently evaluating the impact of the identified prior period errors on current and prior period financial statements. The company intends to file the Form 10-K with the SEC as soon as the evaluation is complete and its independent registered public accounting firm has finalized their audit and review procedures. There can be no assurance that additional issues will not be identified during the course of the audit process, and such items could be material to the company's financial condition and results. TransAtlantic intends to immediately commence the process of hiring a third-party accounting consulting firm to assist and supplement the in-house accounting staff with a thorough review of all prior period accounting and documentation. | |
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News For TAT From The Last 14 Days Check below for free stories on TAT the last two weeks. |
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| May 16, 2013 | | 09:24 EDT | | TAT | TransAtlantic Petroleum trading halted, pending news
| | | 09:08 EDT |  | TAT | TransAtlantic Petroleum reports preliminary Q1 revenue $33M-$37M
Consensus $34.3M. The company expects net income for the quarter ended March 31 to be between ($2M)-$6M compared to a net loss of $3.6M for the quarter ended March 31, 2012. At March 31, 2013, the company had approximately $19M in cash and cash equivalents and approximately $40M in long-term debt. The company expects total shareholders' equity at March 31 to be between approximately $205M-$220M, as compared to $213.8M as of December 31, 2012. | | | May 15, 2013 | | 18:29 EDT | | TAT | TransAtlantic Petroleum reports Q4 EPS (4c), consensus (3c)
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