Transmeridian Reports Progress on Strategic Review

Transmeridian Exploration has provided an update with respect to its strategic review process. The company has received final, non-binding bids for the acquisition of the company and is in active negotiations with prospective buyers.

These negotiations contemplate reaching an agreement for the preferred bidder to tender for all of the outstanding common shares of the company.

Any potential transaction will be subject to execution of a definitive agreement and satisfaction of various conditions precedent. As a result, no prediction can be made as to the timing of the commencement or completion of a tender offer.