Incremental Petroleum (IPM) has announced that Atesler-1 in Southeast Turkey spudded on November 3. TransAtlantic Petroleum Corp is the operator and is fully funding the drilling of the well to 3200m. Incremental will retain a 40% equity in the prospect.
The Atesler prospect is adjacent to over 300 million barrels of produced light oil, with proven reservoir, source and seal. The mean resource of the prospect is 13 million barrels of oil. The regional infrastructure is good, and any discovery could be commercialized within months at minimal cost. The well is expected to take about 60 days, and reports will be issued at significant milestones in the well.
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