<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001092289</cik>
        <entityName>TRANSATLANTIC PETROLEUM LTD.</entityName>
        <issuerAddress>
            <street1>AKMERKEZ B BLOK KAT 5-6</street1>
            <street2>NISBETIYE CADDESI 34330 ETILER</street2>
            <city>ISTANBUL</city>
            <stateOrCountry>W8</stateOrCountry>
            <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
            <zipCode>NONE</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>+90 212 317 25 00</issuerPhoneNumber>
        <jurisdictionOfInc>BERMUDA</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>TRANSATLANTIC PETROLEUM CORP.</previousName>
            <previousName>TRANSATLANTIC PETROLEUM CORP</previousName>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Bermuda Exempted Company With Limited Liability</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N.</firstName>
                <middleName>Malone</middleName>
                <lastName>Mitchell, 3rd</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Executive Officer and Director of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName>C.</middleName>
                <lastName>Larsen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Vice President and Director of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>J.</middleName>
                <lastName>Grider</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Accounting Officer of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffrey</firstName>
                <middleName>S.</middleName>
                <lastName>Mecom</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President and Corporate Secretary of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName>T.</middleName>
                <lastName>Mize</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President and Chief Operating Officer of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName>W.</middleName>
                <lastName>McCann</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alan</firstName>
                <middleName>C.</middleName>
                <lastName>Moon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>D.</middleName>
                <lastName>Winn</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mel</firstName>
                <middleName>G.</middleName>
                <lastName>Riggs</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bob</firstName>
                <middleName>G.</middleName>
                <lastName>Alexander</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>E.</middleName>
                <lastName>Bayley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>AKMERKEZ B BLOK KAT 5-6</street1>
                <street2>NISBETIYE CADDESI 34330 ETILER</street2>
                <city>Istanbul</city>
                <stateOrCountry>W8</stateOrCountry>
                <stateOrCountryDescription>TURKEY</stateOrCountryDescription>
                <zipCode>None</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Oil and Gas</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2011-06-07</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>true</isBusinessCombinationTransaction>
            <clarificationOfResponse>The Issuer's common shares were issued to Mustafa Mehmet Corporation (&quot;MMC&quot;) in connection with the Purchase Agreement dated April 23, 2011, by and among TransAtlantic Worldwide, Ltd. and MMC.</clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>37000000</totalOfferingAmount>
            <totalAmountSold>37000000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse>18,500,000 of the Issuer's common shares were issued under the Purchase Agreement. The common shares were valued at $37,000,000 based on the closing price of the Issuer's common shares on June 7, 2011.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>TRANSATLANTIC PETROLEUM LTD.</issuerName>
                <signatureName>Jeffrey S. Mecom</signatureName>
                <nameOfSigner>Jeffrey S. Mecom</nameOfSigner>
                <signatureTitle>Vice President and Corporate Secretary</signatureTitle>
                <signatureDate>2011-06-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
