From Local news RE: JV partnerThis was translated so somewhat off. It is dated today. It was in a paper called the Monitor
https://translate.google.com/translate?hl=en&sl=sq&u=https://www.monitor.al/transatlantic-ish-stream-oil-vershojne-kreditoret-per-te-mbledhur-faturat-permes-permbarimit/&prev=search
Transatlantic Albania Ltd (formerly Stream Oil), the company's second-largest oil production in the country, after Bankers Petroleum is in serious financial difficulty. The last two months have not ceased requirements for establishing seizures bailiffs mainly conservative on behalf of other businesses, seeking repayment of bills. The latest, dated January 25 benchmarks Sequestration is conservative society Zike executive to account "Silvi Oil & Drilling", which requires repayment of nearly 30 tax bills. "Kola & Associates" is another company in January 18 requested payment of bills through execution. The list is long and seizures have increased sharply in December and November.
The oil industry in Bangladesh is put in a difficult position by the fall in prices in the international market, which have come down to around 30 dollars per barrel, the level where companies in Bangladesh do not really care to extract oil, after losing companies.
Turkish company and the company Transatlantic seems worst affected by the situation. In November last year, it announced that it had put on sale branch in Albania. (Read: Transatlantic Petroleum comes back on sale, Turks in financial difficulty).
Transatlantic entered the Albanian market in late 2014, when it bought Stream Oil, which used the four known sources of oil and gas in Albania, the Ballsh-Hekal Gorisht-Kocul and Cakran-Mollaj in oil, as well as field gas-content Delvins, based on a 25-year concession contract, with 5-year renewable terms.
Because of the major financial problems that were transatlantic companion activity in Albania since the first day of their arrival, they paid little attention to the fact of improving the parameters exhaust deposits that it possessed in the Agreement. This was reflected in the reduction of extractive capacity. Monthly production volumes of the field at the time that the parent company brought in sales of its assets in Albania, learned that fell to the level of 4500 tons per month, from around 6000 which was before. By the Company today has reduced the maximum costs.