DRILLING

Amity spuds fourth Thrace Basin well

Amity Oil has spudded its fourth well, the Adatepe-1 wildcat exploration well, in the Turkish Thrace Basin, reaching a depth of 482m in 17(1/2) inch diameter hole. As the company expected, background gas during drilling of this section was zero to trace levels.

Primary gas targets are predicted at 1190m and 1206m in Danismen Formation sandstones. Secondary gas targets are predicted in Osmancik Formation sandstone between 1490m and 1650m. Proposed total depth is 1700m and is expected to take 17 days.

The Adatepe-1 well is located six kilometres southeast of the Gocerler Gas Field and about 140km west of Istanbul, in the Thrace Basin. Adatepe-1 is positioned to test a structure, well defined by 3D seismic, which exhibits amplitude anomalies coincident with structural closure.

Amity has estimated unrisked potential recoverable natural gas reserves in the most likely case (P50), at 93 billion cubic feet, if gas is present. This estimate includes both the Danismen and Osmancik Formation targets. The seismic also indicates several potential secondary gas targets between 842m and 1190m. The well drilling and oilfield-cementing contractor is TPAO.

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