Anatolia Energy Corp. reports that Giremir-1, the initial exploration well on the Sinan Licence in Turkey, has completed drilling operations at a total depth of 1,250 metres. The well was drilled ahead of schedule and on budget at an estimated cost of US$1.4 million. The well penetrated the Upper Sinan Formation at a depth of 1,066 metres.
Giremir-1 satisfies the drilling commitment on the Sinan Licence pursuant to the Company’s Joint Venture agreement with Calik and as required by the General Directorate of Petroleum Affairs (‘GDPA’), Turkey’s energy regulatory body. While no hydrocarbon shows were encountered during drilling or logging, Giremir-1 satisfies the work commitment of the Sinan Licence and also satisfies the district drilling obligation which includes the Bismil Licences.
Satisfying the drilling commitment and retaining the acreage was a key management priority given the value believed to be held in the Sinan and Bismil Licences, which encompass 17,833 (8,917 net) and 245,699 gross (122,850 net) acres, respectively. The Licences are well-located within the Dadas Shale Oil trend as well as the Cretaceous and Ordovician conventional oil plays. Giremir-1 provides Anatolia with a cost-effective way of advancing the regional strategy for shale oil development in what management believes to be a world class shale oil resource.
Tags: Anatolia Energy Corp.
via Anatolia completes drilling operations on the Sinan Licence in Turkey (Scandinavian Oil-Gas Magazine).