Tethys Oil announced that preparations for drilling the Copkoy-1 well in the Thrace Basin onshore Turkey are underway.
The drilling location construction has been completed. Tethys has a 25% interest in this well targeting shallow natural gas. The well will be drilled by Tethys' Turkish partner Aladdin Middle East Ltd., who is the Operator.
The Copkoy-1 exploration well will be drilled on an anticlinal structure that was identified on 2D seismic acquired in 2007. The Copkoy-1 well is located in license 3999 in the Thrace Basin close to the Greek border. Several gas discoveries have been made in the area over the last ten years.
"We are delighted to see some activity in the Thrace Basin of Turkey. The Thrace basin offers a well established natural gas infrastructure. The relatively high gas prices coupled with comparatively low drilling costs in the area could make even smaller discoveries quite interesting," commented Tethys Oil's Managing Director, Magnus Nordin.
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