Otto Announces 2nd Gas Flow from Kuze Arpaci-1 in Edirne, Turkey



Further to the ASX release dated June 4, 2008, joint venture partners Otto Energy and Incremental Petroleum announced further excellent flow rates from the recently drilled exploration well, the Kuzey Arpaci-1.

Highlights:

  • The first zone tested flowed dry gas at a rate of 1.15 MMscf/d over the interval 462.8m to 467.5m at a stabilized rate of 1.15MMscfg/d through a 1/2" choke.
  • Additional perforations have since been added and the combined zones flowed dry gas at rates of up to 2.8 MMscf/d from several intervals between 404m and 468m through a 40/64" choke.
  • Two further pay zones with multiple potential gas intervals at a shallower level have been identified in the well and will be added at a later stage.
  • Kuzey Arpaci-1 was the second well drilled in 2008 as part of a 4-well drilling campaign designed to prove up commercial volumes of gas, which are earmarked for production by mid 2009.

    Following completion of the production test, the rig will move to the gas exploration well Arpaci-1, which was drilled in 2006. After testing the well, the rig will return to the Arpaci-2 location to drill and test the new well Arpaci-2A. Arpaci-2A is a re drill of Arpaci-2, which had to be plugged back due to high gas pressures.

    The partners in the Edirne Gas project are Otto Energy with 35% and Joint Operators Incremental Petroleum (55%) and Petraco Energy (10%).


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