TransAmerican Energy Inc.
TSX VENTURE : TAE
FRANKFURT : YQJ

TransAmerican Energy Inc.

November 19, 2008 17:01 ET

TransAmerican Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2008) - TransAmerican Energy Inc. (TSX VENTURE:TAE)(FRANKFURT:YQJ) (the "Company" or "TransAmerican") is pleased to announce that all of its deficient continuous disclosure documents have now been brought up-to-date and have been SEDAR filed, including annual oil and gas disclosure forms for the years ended April 30, 2006, 2007 and 2008, re-filed amended and restated financial statements and MD&A for the interim periods ended July 31, 2007, October 31, 2007 and January 31, 2008, and amended and restated MD&A for the year ended April 30, 2007. The Company has also filed its financial statements and related MD&A for the year ended April 30, 2008 and for the first quarter ended July 31, 2008.

On November 19 2008, the B.C. Securities Commission revoked the Cease Trade Order issued against the Company. The Company has made application to the Alberta Securities Commission for revocation of their Cease Trade Order against the Company, and has also made application to the TSX Venture Exchange for reinstatement for trading as a Tier 2 Issuer. A further News Release will be disseminated once the Alberta CTO has been revoked, and once the TSX Venture Exchange has confirmed the Company may resume trading.

The Company further announces that it will be seeking shareholder approval at its Annual General Meeting scheduled to be held December 30, 2008 to authorize the directors of the Company in their sole discretion to implement a consolidation of the Company's share capital on a ten (10) old shares for one (1) new share basis, subject to completion by November 19, 2009. The Company currently has 77,672,097 shares outstanding, which, if no further shares are issued, would be reduced to 7,767,210 post-consolidated common shares. There will be no name change with this consolidation. The consolidation is subject to receipt of shareholder and regulatory approval.

The Company wishes to clarify that its Officers and Directors are currently comprised of the following:

Ron Hughes, President, Chief Executive Officer and Director

Tom Needham, Chief Financial Officer, Secretary and Director

Jurgen Wolf, Director

Mike Stark, Director

Messrs. Needham and Stark were appointed to the Board of Directors of the Company in October 2008, after the acceptance of the resignation of Mr. Gilbert Talafuse, and the death of Mr. Robert Lim.

Regarding the Company's website, Management advises that it is in the process updating and re-launching the Company's website at www.transamericanenergy.com, which we anticipate will be completed by the end of November.

ON BEHALF OF THE BOARD

Ron Hughes, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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