**Exhibit 10.8**

**Execution Copy**

**Registration Rights Agreement**

This Registration Rights Agreement (“Agreement”) is entered into as of December 12, 2005 by and between Transmeridian ExplorationIncorporated, a Delaware corporation (the “Company”) and Kornerstone Investment Group Ltd. (the “Investor”). In order to induce the Investor to enter into that certain Purchase Agreement (herein so called) by and betweenTransmeridian Exploration, Inc., a wholly-owned subsidiary of the Company, and the Investor dated of even date herewith, the Company has agreed to provide the registration rights set forth in this Agreement. The effectiveness of this Agreement isconditioned upon the consummation of the closing of such Purchase Agreement. 

NOW THEREFORE, for and in consideration of the mutualcovenants and conditions as set forth in the Purchase Agreement and in this Agreement, the parties hereto hereby agree as follows: 

1) RegistrationRights

(a) Piggyback Registration Rights. In the event the Company intends to file a Registration Statement under the Securities Act(other than on Form S-4 or Form S-8 or any successor form for the registration of securities issued or to be issued in connection with a merger or acquisition or employee benefit plan) covering the offer and sale of Common Stock by the Company or byother selling shareholders, the Company shall give written notice thereof to the Investor, and the Company shall include in such registration such number of Registrable Securities for which it has received written requests from the Investor toinclude within such Registration Statement within fifteen (15) days after the Company has sent written notice to such Investor. 

(b)Underwritten Offerings. If for any reason the Form S-3 Registration Statement under Subsection (a) above is to cover an Underwritten Offering, such Registrable Securities shall be included in the underwriting on the same terms and conditions asthe securities otherwise being sold through the underwriters. If in the good faith judgment of the managing underwriter in any Underwritten Offering, the inclusion of all of the shares of Registrable Securities and any other Common Stock requestedto be registered in such Underwritten Offering would interfere with the successful marketing of a smaller number of such shares, then the number of shares of Registrable Securities and other Common Stock to be included in the offering (except forshares to be issued by the Company in an offering initiated by the Company) shall be reduced to such smaller number as the managing underwriter shall in its sole discretion determine. In this event, the reduction in participation by holders ofRegistrable Securities shall occur on a pro rata basis with all other participating holders of securities to be registered under such Form S-3 Registration Statement or other Registration Statement (as applicable), except to the extent that certainholders of other securities may have a contractual preference to participate. In such case, the Company and the managing underwriter shall use their reasonable best efforts to accommodate the selling desires of the holders of Registrable Securitiesand the holders of other shares of Common Stock of the Company who possess such registration rights. Any shares for which the Company has received written request to register such shares and which are excluded from an underwritten public offering asdiscussed above, shall be withheld from the market by 

 

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the holders thereof for a period of time, not to exceed 30 days prior to the effective date and 180 days thereafter, that the managing underwriter reasonablydetermines is necessary in order to effect the underwritten public offering. 

2) Termination

If the Investor participates in an offering but ultimately decides not to sell upon the effectiveness of the Registration Statement including such shares,the obligations of the Company under this Registration Rights Agreement shall cease. In any event, this Registration Rights Agreement shall immediately terminate without further action on the part of the Company at such time as the securities thathave registration rights under this Agreement shall no longer be Transfer Restricted Securities. 

3) Registration Procedures

If and whenever the Company is required to register Registrable Securities, the Company will use its reasonable best efforts to effect such registrationto permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company will as expeditiously as possible: 

(a) prepare and file with the SEC as soon as practicable a Form S-3 Registration Statement with respect to such Registrable Securities and use its bestefforts to cause such Registration Statement to become effective and remain effective until the Registrable Securities covered by such Registration Statement have been sold, provided, however, in no event shall the Company be required to maintainthe effectiveness of the Form S-3 Registration Statement for longer than one hundred eighty (180) days; 

(b) prepare and file with theSEC such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be reasonably requested by the Investor or any underwriter of Registrable Securities or as may be required by the rules,regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by suchRegistration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus; 

(c) deliver to the Investor and the underwriters, if any, without charge, as many copies of each Prospectus (and each preliminary prospectus) as such Persons may reasonably request (the Company hereby consenting tothe use of each such Prospectus (or preliminary prospectus) by the Investor and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus (or preliminary prospectus); and 

(d) register or qualify or cooperate with the Investor, the underwriters, if any, and their respective counsel in connection with the registration orqualification of such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions as the Investor or underwriters may designate in writing and do anything else necessary or advisable to 

 

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enable the disposition in such jurisdictions of the Registrable Securities covered by the Registration Statement; provided that the Company shall not berequired to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject. 

Notwithstanding the undertakings in this Section 3, the Company may decline to file a Registration Statement after giving notice to any holder ofRegistrable Securities as discussed in Section 1, or withdraw a Registration Statement after filing and after such notice, but prior to the effectiveness thereof, provided, that the Company shall promptly notify each holder in writing of anysuch action and provided, further, that the Company shall bear all expenses which would otherwise have been charged to the holder in connection with such withdrawn Registration Statement. In taking such action, the Company shall have no liability tothe holders of Registrable Securities to the extent it did not have a contractual requirement to file such Registration Statement or obtain its effectiveness. 

4) Registration Expenses

The Registration Expenses of all Registrations shall be borne by the Company, except that(i) the fees and disbursements of any counsel to the selling security holders shall be paid by such holders if such security holders are unwilling to be represented by counsel to the Company, and (ii) the selling security holders shall payall underwriting discounts or commissions, any selling commissions and stock transfer taxes attributable to sales of Registrable Securities. 

5)Requirements for Participation in Underwritten Offerings

No person may participate in any Underwritten Offering pursuant to aRegistration initiated by the Company hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Company and (b) completes and executes allquestionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements; provided, that the term of such underwriting arrangement in connection with the sale ofRegistrable Securities shall be no less favorable than the terms afforded to any other holder of securities participating in the Underwritten Offering. 

6)Suspension of Sales

Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains aMisstatement, each Holder of Registrable Securities shall forthwith discontinue disposition of Registrable Securities until such Holder has received copies of a supplemented or amended Prospectus, or until such Holder is advised in writing by theCompany that the use of the Prospectus may be resumed, and, if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession,of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. 

 

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7) Miscellaneous

Any notice, demand or other communication which any party hereto may be required, or may elect, to give to anyone interested hereunder shall be sufficiently given if (a) deposited, postage prepaid, in a UnitedStates mail letter box, registered or certified mail, return receipt requested, addressed to such address as may be given herein, or (b) delivered personally at such address. This Agreement may be executed through the use of separate signaturepages or in any number of counterparts, and each of such counterparts shall, for all purposes, constitute one agreement binding on all the parties, notwithstanding that all parties are not signatories to the same counterpart. Except as otherwiseprovided herein, this Agreement shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and assigns. If the Investor is more than one person, the obligation of theInvestor shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and its heirs, executors, administrators and successors. Thisinstrument contains the entire agreement of the parties, and there are no representations, covenants or other agreements except as stated or referred to herein. This Agreement is not transferable or assignable by the Investor. This Agreement shallbe governed by and construed in accordance with the laws of the State of Texas. 

8) Definitions

Registration Expenses: Registration Expenses shall mean: 

(1) all registration and filing fees (including fees with respect to filings required to be made with the Securities and Exchange Commission and the National Association of Securities Dealers, Inc.); 

(2) fees and expenses of compliance with securities or blue sky laws (including fees and disbursements of counsel for the underwriters in connection withblue sky qualifications of the Registrable Securities); 

(3) printing, messenger, telephone and delivery expenses; 

(4) fees and disbursements of counsel for the Company; and 

(5) fees and disbursements of all independent certified public accountants of the Company incurred specifically in connection with such Registration. 

Registration Expenses shall not include: (i) the fees and disbursements of any counsel to the selling security holders, which shall be paid by suchholders if such security holders are unwilling to be represented by counsel to the Company, and (ii) any underwriting discounts or commissions, any selling commissions and stock transfer taxes attributable to sales of Registrable Securities.

Registrable Securities: (a) One Million (1,000,000) shares of Common Stock, $0.0006 

 

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par value, of the Company (the “TMI Stock”) issued to the Investor under the Purchase Agreement, and (b) any securities issued or issuablewith respect to such TMI Stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; *provided, however,* that any such shares or securities shall bedeemed to be Registrable Securities only if and so long as it is a Transfer Restricted Security. 

Registration Statement: Any otherform of registration statement that the Company determines, in its sole discretion to file, and in each case including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to suchregistration statement, and all exhibits to and all material incorporated by reference in such registration statement. 

SecuritiesAct: The Securities Act of 1933, as from time to time amended. 

SEC: The Securities and Exchange Commission. 

Transfer Restricted Security: A security that has not been sold to or through a broker, dealer or underwriter in a public distribution or otherpublic securities transaction or sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Rule 144(k) promulgated thereunder (or any successor rule other than proposed Rule 144A). Theforegoing notwithstanding, a security shall remain a Transfer Restricted Security until (i) all stop transfer instructions or notations and restrictive legends with respect to such security are eligible to be removed and (ii) the Holder ofsuch security has received an opinion of counsel to the Company, to the effect that such shares in such Holder’s hands are freely transferable in any public or private transaction without registration under the Securities Act (or such Holderhas waived receipt of such opinion). 

Underwritten Registration or Underwritten Offering: A registration in which securitiesof the Company are sold to an underwriter for distribution to the public. 

 

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IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the date first abovewritten. 

 
TRANSMERIDIAN EXPLORATION INCORPORATEDBy: 
/s/ Lorrie T. Olivier
 Lorrie T. Olivier President and CEOKORNERSTONE INVESTMENT GROUP LTD.By: 
/s/ Nurzhan S. Kurmanov
 Nurzhan S. Kurmanov President
 

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