Petrako Limited Company News

Otto Energy and Incremental Petroleum says that the 3D Seismic Survey in the Turkish Edirne License in the Thrace Basin was completed on budget and ahead of schedule as of September 17, 2007.

Incremental Petroleum has agreed to pay Otto Energy Limited US$5.5 million for an additional 30% working interest in the Edirne License and has also farmed into Otto's Catalco & Ortakoy Licenses in the Thrace Basin, Turkey.

Australian oil and gas exploration and development company Otto Energy Limited announced plans to drill the Yagci-1 gas exploration well in the Thrace Basin of Turkey.

Otto Energy, together with Joint Venture partner Incremental Petroleum, said that the rig used to drill the Koyustu-1 gas well in the Edirne License, Thrace Basin, Turkey has been moved 1.5km southwest to Bati Umur-1 for flow testing.

Otto Energy, together with joint venture partner Incremental Petroleum, on Tuesday announced that the Koyustu-1 gas exploration well, in the Edirne License, Thrace Basin, Turkey flowed gas from the first of three intervals.

Australian oil and gas exploration and development company Otto Energy, together with joint venture partner Incremental Petroleum, reported that the Koyustu-1 gas exploration well, in the Edirne License, Thrace Basin, Turkey has discovered gas.