Attached files
Exhibit 99.2
TRANSATLANTIC PETROLEUM LTD.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Three Months Ended March 31, 2012
(Thousands of U.S. Dollars, except per share amounts)
| Historical | Pro Forma Adjustments |
Pro Forma | ||||||||||||||
| Total revenues: |
$ | 34,935 | $ | — | $ | 34,935 | ||||||||||
| Costs and expenses: |
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| Production |
3,635 | 2,181 | A | 5,816 | ||||||||||||
| Exploration, abandonment and impairment |
2,796 | — | 2,796 | |||||||||||||
| Seismic and other exploration |
664 | 752 | B | 1,416 | ||||||||||||
| General and administrative |
9,748 | — | 9,748 | |||||||||||||
| Depreciation, depletion and amortization |
9,169 | 456 | C | 9,625 | ||||||||||||
| Accretion of asset retirement obligation |
252 | — | 252 | |||||||||||||
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| Total expenses |
26,264 | 3,389 | 29,653 | |||||||||||||
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| Operating income (loss) |
8,671 | (3,389 | ) | 5,282 | ||||||||||||
| Other (expense) income: |
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| Interest and other expense |
(3,259 | ) | 1,535 | D | (1,724 | ) | ||||||||||
| Interest and other income |
273 | 86 | E | 359 | ||||||||||||
| Loss on commodity derivative contracts |
(12,435 | ) | — | (12,435 | ) | |||||||||||
| Foreign exchange gain (loss) |
4,272 | — | 4,272 | |||||||||||||
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| Total other expense |
(11,149 | ) | 1,621 | (9,528 | ) | |||||||||||
| Loss from continuing operations before income taxes |
(2,478 | ) | (1,768 | ) | (4,246 | ) | ||||||||||
| Income tax expense |
(161 | ) | (354 | ) | F | (515 | ) | |||||||||
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| Net loss from continuing operations |
(2,639 | ) | (2,122 | ) | (4,761 | ) | ||||||||||
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| Net loss per share from continuing operations |
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| Basic and diluted |
(0.01 | ) | (0.01 | ) | ||||||||||||
| Weighted average shares outstanding |
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| Basic and diluted |
366,436 | 127 | G | 366,563 | ||||||||||||
See accompanying notes to these unaudited pro forma condensed consolidated financial statements.
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