Transmeridian Begins Exchange Offer for Senior Notes

Transmeridian Exploration Incorporated (AMEX: TMY) reports that Transmeridian Exploration Inc., the Company's wholly owned British Virgin Islands subsidiary ("TEI"), has commenced its exchange offer of $290 million aggregate principal amount of its Senior Secured Notes due 2010 registered under the Securities Act of 1933 for all $290 million aggregate principal amount of its outstanding Senior Secured Notes due 2010 sold in December 2005 and May 2006 pursuant to Regulation D under the Securities Act of 1933.

The exchange offer will expire at 5:00 p.m., New York City time, on July 18, 2006, unless extended. This announcement is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase any securities. The exchange offer is being made solely by TEI's prospectus, dated June 12, 2006, with respect to the exchange offer and the related letter of transmittal. Copies of the prospectus and letter of transmittal may be obtained from The Bank of New York, the exchange agent for the exchange offer, Reorganization Section, 101 Barclay Street, New York, New York 10286, Attn: David A. Mauer, (212) 815-3687.


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