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TransAmerican Announces Financing Renegotiation for $900,000


November 9, 2006, Vancouver, British Columbia - TransAmerican Energy Inc. (TSX VENTURE:TAE) ("TransAmerican" or the "Company") the Company announces that it has decided not to proceed with its private placement announced in a News Release on October 3, 2006, and has instead renegotiated a private placement of up to $900,000 with certain placees, subject to receipt of acceptance by the TSX Venture Exchange (the "Exchange").

These funds will be raised by the Company issuing up to 15,000,000 Units at a price of $0.06 per Unit, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of one (1) year from the date of issuance at a price of $0.10 per share. If over a period of twenty consecutive trading days commencing four months after the issue of the share purchase warrants the weighted average closing price of the Company's shares as traded on the Exchange exceeds Cdn. $0.15, then TransAmerican may give notice in writing to the holders of the share purchase warrants that the share purchase warrants shall expire at 5:00 p.m. (Vancouver time) on the 20th business day following delivery of such notice unless exercised by the holder of the share purchase warrants prior to such time.

Proceeds of $900,000 raised from this private placement will be used toward exploration and development of the Company's oil and gas properties located in Mississippi and Louisiana, and for general working capital.

The Company may pay finders' fees in connection with the private placement in accordance with the policies of the Exchange.

Please visit the Company's website at http://www.transamericanenergy.com


Ron Hughes, President


TransAmerican Energy Inc.
Ron Hughes, President
Toll Free: 1-888-945-5056
[email protected]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

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