X0306 4 2019-12-12 1 0001092289 TRANSATLANTIC PETROLEUM LTD. TAT 0001541055 Nokomis Capital, L.L.C. 2305 CEDAR SPRINGS RD., SUITE 420 DALLAS TX 75201 0 0 1 0 0001337431 Hendrickson Brett 2305 CEDAR SPRINGS RD., SUITE 420 DALLAS TX 75201 0 0 1 0 Common Shares, par value $0.10 per share 2019-12-12 4 S 0 7363053 D 0 I See Footnotes 12% Series A Convertible Redeemable Preferred Shares 2019-12-12 4 S 0 326000 D 2016-11-04 Common Shares, par value $0.10 14915804 0 I See Footnotes On December 12, 2019, a private investment fund (the "Nokomis Account") advised by Nokomis Capital, L.L.C. ("Nokomis Capital") entered into a Stock Purchase Agreement with an unaffiliated third party (the "Purchaser") pursuant to which the Nokomis Account agreed to sell to the Purchaser 326,000 shares of TransAtlantic Petroleum, Ltd.'s (the "Issuer") 12.0% Series A Convertible Redeemable Preferred Shares ("Preferred Shares") and 7,363,053 Common Shares, par value $0.10 per share ("Common Shares") of the Issuer for total consideration of $20,640,835.90 in cash, comprised of $17,871,591.67 for the Preferred Shares and $2,769,244.23 for the Common Shares. The filing of this Form 4 shall not be construed as an admission that Nokomis Capital or Brett Hendrickson, the manager of Nokomis Capital, was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the Common Shares or Preferred Shares of the Issuer held by the (continued from footnote 1) Nokomis Account. Pursuant to Rule 16a-1, both Nokomis Capital and Mr. Hendrickson disclaim such beneficial ownership. Nokomis Capital may have been deemed to have indirectly beneficially owned the Common Shares and Preferred Shares of the Issuer that were held by the Nokomis Account, for which Nokomis Capital is the Investment Manager. Brett Hendrickson reports the Common Shares and Preferred Shares that were held by the Nokomis Account because, as the manager of Nokomis Capital, he controlled the disposition and voting of such securities. This amount includes 821,748 Common Shares received as a dividend on June 28, 2019, and 943,015 Common Shares received as a dividend on September 30, 2019. The Preferred Shares have no expiration date. The Preferred Shares that were beneficially owned by the Reporting Persons were not currently convertible into Common Shares due to certain blocker provisions contained in the governing documents for such Preferred Shares. If such Preferred Shares were convertible, each Preferred Share would be convertible at the option of the holder into 45.7543 Common Shares. NOKOMIS CAPITAL, L.L.C., Name: /s/ Brett Hendrickson, Title: Manager 2019-12-16 /s/ Brett Hendrickson 2019-12-16