Arpaci-1 is expected to take seven days to reach a planned total depth of 500 metres.

Located in the Edirne Licence 3839, the Arpaci prospect has a positive geochemical anomaly at surface indicative of mini gas seepage and strong amplitude anomalies on seismic. This coincides with interpreted shallow reservoir intervals, according to Ottoman, which has a 65% interest in the well.

Ottoman’s first exploration well, Bati Umur-1, on a nearby but separate prospect, discovered gas last month and has been cased for future flow testing and potential development.

The two wells in Thrace Basin Petroleum District 1 (Marmara) follow a 12 month detailed exploration phase undertaken by the company.

Bati Umur-1 and Arpaci-1 were drilled by TPAO (the Turkish National Oil Company) and their new truck mounted MR 7000 drilling rig, managing director Jaap Poll said.

“The selection of the Bati Umur and Arpaci prospects is the culmination of a rigorous exploration process including data reviews, reprocessing, advanced geochemical and seismic surveys and amplitude anomaly analyses,” Poll said.

“Both prospects show amplitude anomalies indicative of the likely presence of hydrocarbons.”

Meanwhile, a third prospect, Koyustu, also with Geochemical and amplitude anomalies, is ready for drilling, Poll said.

Koyustu is adjacent to Bati Umur and Arpaci. Upon success in Arpaci and Koyustu, these individual fields could be developed as one development project sharing infrastructure, he said.

In addition, several follow-up leads with amplitude anomalies have already been identified on nearby reconnaissance seismic. These leads will become a focus for seismic detailing this year, with the aim to prove-up a number of targets for drilling later in the year.

In mid-November, Ottoman farmed-out a 15% working interest in Edirne Licence to Incremental Petroleum. Under the agreement, Incremental will fund a future exploration program to a total value of A$3,000,000.