Alpullu-2, is updip from the Alpullu-1 and Pancarkoy-1 wells, and is testing a shallow structural closure, defined by high quality 2D seismic which was shot by Amity late last year.
The Pancarkoy-1 well had strong gas shows and possibly by-passed gas pay, interpreted from limited wireline log data. The structure has a coincident seismic amplitude anomaly, suggesting the presence of gas.
Alpullu-2 is designed to test the continuity of the gas sands encountered in Alpullu-1.
Development of the Alpullu will help to offset the company's recent slide in fortunes due to the downgrading of its core Turkish asset, the Gocerler gas field.
Investors are yet to be persuaded that the company's run of bad luck is over with the share price remaining around the 83 cent mark, well below its 2003 peak of $1.41.
