In its quarterly report, the Perth-based company yesterday said it earned about $2.8 million in the three months to June 31.

Incremental said its sole producing asset, the Selmo oil field produced 134, 464 barrels during the quarter – slightly more than the previous corresponding period due to better weather, well workovers and coiled tubing acidisations

“A number of general workers were performed during the quarter,” it said.

“Selmo-20 plug back resulted in a net increase of about 100 barrels of oil per day, [while] other workovers have resulted in modest production increases and help in improving Selmo’s production curve.”

The company said the Selmo JV has begun amalgamating its pipelines, so the field’s 76km of pipeline will reduced to 20km.

Incremental said this was to ensure the lines have less chance of freezing during winter, reduce downtime during repairs and decrease backpressure on wells, which could increase production and decrease diesel costs.

Elsewhere in Turkey, Incremental said its joint venture with Otto Energy was still on track to start a four to six well drilling program at the gas-prospective Edirne licence in December.

Three gas discoveries have already been made at the Edirne gas project, Incremental’s second major project behind Selmo.

The JV has also recently finished shooting 2D seismic and geochemical sampling, and has just started a 3D survey over the area.

Also during the quarter, Incremental acquired a 100% stake in exploration Block 4262, about 110km west of Selmo and also immediately south of two producing oil fields.

“Seismic data has recently been received over the block, and a prospect with possible closure of some 1500 acres appears to be present at reservoir level,” it said.

Subject to ongoing exploration studies, Incremental is planning to drill a well on this structure in the next 12 months.