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.
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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