03:45 PM EST - TransAtlantic Petroleum Corp. : announced that its first-quarter net loss was $13.3 million U.S., or $0.09 U.S. per share, compared to a net loss of $1.1 million U.S., or $0.02 U.S. per share for the first quarter of 2008. The net loss for the first quarter of 2009 was primarily composed of lease operating expenses of $1.0 million U.S., seismic and other exploration costs of $2.4 million U.S., depreciation, depletion and amortization expense of $1.3 million U.S., general and administrative expense of $1.7 million U.S., and foreign exchange loss of $4.3 million U.S. related to the Company's acquisition of Incremental Petroleum. Petroleum revenues for the first quarter of 2009 were $1.4 million U.S., up from $14,000 U.S. in the first quarter of 2008. TransAtlantic Petroleum Corp.
shares T.TNP are trading up $0.05 at $2.00.
