TransAtlantic Appoints McCann CEO, Larsen President

TransAtlantic has announced the appointment of Matthew McCann, a member of the Company's board of directors, to the position of Chief Executive Officer effective January 1, 2009. Scott Larsen, the Company's current President and Chief Executive Officer, will remain President and continue to sit on the Company's board of directors.

"Scott Larsen has tremendous international experience and a broad range of skills that are critical in building a premier international oil & gas company," said Malone Mitchell, Chairman of the Company's board of directors. "As TransAtlantic's new CEO, Matthew McCann will employ The Mitchell Group's expertise in acquiring and developing oil & gas assets to increase shareholder value."

McCann's career is highlighted by his leadership as General Counsel for The Mitchell Group and Vice President, Legal & Corporate Secretary for SandRidge Energy, Inc. from 2005 to 2007. From 2001 to 2005, he served as General Counsel for Riata Energy. McCann received a B.S. in Business Administration from the University of Vermont and a J.D. from the University of Oklahoma College of Law.

"I am delighted to lead TransAtlantic in a promising niche in the international arena. With The Mitchell Group's financial, operational, and technical commitment and TransAtlantic's internationally experienced team, the Company is well positioned to pursue its strategic objectives," said McCann.