TransAmerican Energy Inc.
TSX VENTURE : TAE
FRANKFURT : YQJ

TransAmerican Energy Inc.

November 26, 2008 13:42 ET

TransAmerican Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2008) - TransAmerican Energy Inc. (TSX VENTURE:TAE) (FRANKFURT:YQJ) (the "Company" or "TransAmerican") is pleased to announce that on November 25, 2008, the Alberta Securities Commission issued an order revoking the Cease Trade Order that it issued against the Company on August 21, 2008.

As previously announced (see TAE News Release dated November 19), on November 19, 2008 the B.C. Securities Commission revoked the Cease Trade Order issued by it against the Company.

As part of the process of seeking revocation of the cease trade orders, the Company has filed its annual oil and gas disclosure for the years ended April 30, 2006, 2007 and 2008 and has 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, in addition to the 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 the interim period ended July 31, 2008.

The Company has made application to the TSX Venture Exchange for reinstatement for trading as a Tier 2 Issuer, and a further News Release will be disseminated once the TSX Venture Exchange has confirmed the Company may resume trading.

The Company will continue to focus on its exploration and development of multiple oil and gas projects at various stages of production and development in both Canada and the United States. TAE is pursuing exploration and development fields located primarily in Mississippi, Louisiana, Texas, Oklahoma and Alberta. Management believes that exploration drilling in these highly prolific areas will continue to increase our production and reserves.

ON BEHALF OF THE BOARD

Ron Hughes, President

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

Contact Information

  • TransAmerican Energy Inc.
    Ron Hughes
    President
    (604) 718-2800
    (604) 718-2808 (FAX)