Amity Spuds Yesiltepe-1 in Turkey

Amity Oil has spudded the Yesiltepe-1 well near the Turkish Mediterranean coast. This well will test a major onshore structural target. The target is a series of stacked sandstone reservoir rocks which are expected to be intersected from about 250 meters to total depth of 2000 meters with a prospective zone of 1850 meters gross and 600 meters net in adjacent wells.

The Yesiltepe anticline is a major structure and it is estimated that it has a "most likely case" (50% probability) recoverable reserve potential of 270 billion cubic feet of gas, or 140 million barrels of oil, if hydrocarbons are present. The "maximum case" (10% probability) is 1,028 billion cubic feet of gas or 536 million barrels of oil, if hydrocarbons are present.

Omax has a 10% interest and Amity International Pty Ltd., a subsidiary of Amity Oil Limited, is operator with an 80% interest.


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