FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * OLIVIER LORRIE T   2. Issuer Name and Ticker or Trading Symbol TRANSMERIDIAN EXPLORATION INC [TMY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CHAIRMAN/CEO (Last) (First) (Middle) 397 N. SAM HOUSTON PWKY E, SUITE 300 3. Date of Earliest Transaction (Month/Day/Year) 08/31/2007 (Street) HOUSTON, TX 77060 4. If Amendment, Date Original Filed(Month/Day/Year) 09/26/2006 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Put Option (Right to Sell)

(1) (2)

08/31/2007(1)(2)

J(1)(2)

867,181 (1) (2)

08/31/2007(1)(2)

08/18/2009

Common Stock

867,181 (3)

(1) (2)

2,372,819

I

The Olivier Family Interests Ltd

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
OLIVIER LORRIE T 397 N. SAM HOUSTON PWKY E SUITE 300 HOUSTON, TX 77060	X	X	CHAIRMAN/CEO

Signatures

/s/ Lorrie T. Olivier		09/26/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On September 22, 2006, The Olivier Family Interests Ltd. ("OFI") borrowed on a non-recourse basis the principal sum of approximately $6.6 million (the "Loan") from a non-affiliated lender (the "Lender"). The Loan matures August 18, 2009. As collateral for the Loan, OFI pledged to the Lender 2,700,000 shares of Common Stock (the "Original Pledged Shares"). On June 29, 2007, an additional 44,751 shares of Common Stock were pledged, on July 10, 2007, an additional 495,249 shares were pledged and on July 17, 2007, an additional 457,826 shares were pledged, in each case as additional collateral for the Loan (such additional shares, together with the Original Pledged Shares, the "Pledged Shares"). On July 31 and August 31, 2007, the Lender returned 457,826 and 867,181 of the Pledged Shares, respectively, to OFI.
(2)	The Loan and pledge provide that if OFI fails to repay the Loan at maturity, or if an event of default on the Loan occurs at an earlier date, the Lender may sell the Pledged Shares to satisfy the unpaid balance of the amount owed; however, OFI would not generally be liable for any deficiency if the Pledged Shares, or proceeds from the sale thereof, are not sufficient to satisfy in full all amounts owed. Prior to the occurrence of an event of default, OFI retains voting power over the Pledged Shares and the right to receive any dividends or distributions.
(3)	Registered on Form S-3 filed July 17, 2006 (Reg. No. 333-135798).

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