EXPLORATION

Turkish delight for Incremental, Otto

INCREMENTAL Petroleum and Otto Energy have discovered almost three times the prognosed gas pay in...

Wireline line logs indicated that the well, the first in their five-well exploration program, encountered 28m of net gas pay between 323m and 468m.

Incremental said the deeper pay would increase preliminary mapped reserves, adding that Ikihoyuk-1 was drilled without incident and about 15% below budget.

The well will be flow tested, along with any other discoveries, at the end of the drilling program which is expected to last about six weeks.

The Ikihoyuk structure is one of 17 structures mapped on the 3D seismic survey acquired last year.

It is a downthrown fault trap, with a mapped structural closure of about 1.7 square kilometres.

Incremental holds a 55% stake in the Edirne licence, while Otto Energy has 35% and a Turkish company, Petraco, holds the remaining 10%.

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