Otto Energy has provided an update on its exploration drilling programs in Turkey, Italy and Argentina.
Turkey -- Edirne Licence
The Kirmizihoyuk‐1 exploration well was drilled to total depth and encountered gas over a number of zones of between 3m and 15m gross thickness at depths of 330m to 480m. As reported last week the lower zones have been individually flow tested, flowing up to 1.5 MMscf/d with some water production. Further testing has given total combined rates for all zones tested of some 3 MMscf/d. Testing of
Italy -- Cento‐Bastiglia Permits
Drilling commenced on May 19, 2009 in the Cento‐Bastiglia Exploration Permits located in the Po Valley, onshore Italy. The Gazzata‐1 exploration well was drilled to a depth of 1,764m and logging carried out. 12 1/4" casing is currently being run to 1,750m. Casing and cementing is expected to be completed in the next few days and then Gazzata‐1 will recommence drilling ahead to the target depth.
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