Edgar Filing: TRANSMERIDIAN EXPLORATION INC

Ownership Submission

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)
07/17/2007

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Put Option (Right to Sell)

⁽¹⁾

08/31/2007⁽¹⁾

J⁽¹⁾

480,516 ⁽¹⁾

08/31/2007⁽¹⁾

05/28/2009

Common Stock

480,516

⁽¹⁾

The Olivier Family Interests Ltd

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	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 June 22, 2007, The Olivier Family Interests Ltd. ("OFI") pledged 122,769 shares of Common Stock for an existing non-recourse loan (the "Loan") from a non-affiliated lender (the "Lender"). The maturity date of the Loan is May 28, 2009. On June 29, 2007 an additional 82,977 shares were pledged, on July 10-11, 2007 an additional 274,770 shares were pledged, and on July 17, 2007 an additional 251,948 shares were pledged, in each case as collateral for the Loan. On July 31 and August 31, 2007, the Lender returned 251,948 and 480,516 of the pledged shares, respectively, to OFI. The Loan and pledge provide that if an event of default occurs, the Lender has the right to foreclose and sell the pledged shares to satisfy the balance of the amount owed; however, OFI will not generally be liable for any deficiency. Prior to the occurrence of an event of default, OFI retains voting power over the pledged shares and the right to receive dividends or distribution

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