Transmeridian Extends Exchange Offer for Senior Secured Notes Due 2010

Transmeridian Exploration Incorporated said that Transmeridian Exploration Inc. (TEI), its wholly owned British Virgin Islands subsidiary, has extended to 5 p.m., New York City time, on July 21, 2006 (unless further extended) 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. TEI does not currently intend to extend the expiration date for the exchange offer beyond such date.

The exchange offer had been scheduled to expire at 5 p.m., New York City time, on July 18, 2006. As of 5 p.m., New York City time, on July 18, 2006, approximately $279 million aggregate principal amount of notes (out of $290 million aggregate principal amount outstanding) had been tendered in the exchange offer.

Holders of notes who do not tender before 5 p.m., New York City time, on July 21, 2006, will continue to hold unregistered securities and will have no right to compel the registration of their notes under the Securities Act of 1933.

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. This announcement amends and supplements the prospectus and letter of transmittal with respect to the matters described above. All other terms and conditions of the exchange offer as set forth in the prospectus and letter of transmittal remain in full force and effect.

Transmeridian Exploration Incorporated (TMEI) is an independent energy company established to acquire and develop oil reserves in the Caspian Sea region of the former Soviet Union. TMEI primarily targets medium-sized fields with proved or probable reserves and significant upside reserve potential. Its first major project is the South Alibek Field in Kazakhstan and it is currently pursuing additional projects in the Caspian Sea region.

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