TransAtlantic Petroleum is now drilling in Turkey, Morocco, and Romania. "Our pace of activity is beginning to accelerate as the crews become more familiar with the rigs and we near completion of shipping on our major supply and maintenance stock piles," said Malone Mitchell, the Company's chairman.
In southeastern Turkey, the Company has drilled the Atesler #1 well and encountered mud log and sample oil shows in the Mardin dolomite, the target formation. Completion efforts on the well are underway. The Company has also commenced drilling the S-54 well, its first well in the Selmo oil field, and is near total depth.
The Company has conducted operations on 4 wells in the Edirne gas field in the Thrace Basin in northwestern Turkey. Two wells were drilled and four wells, including the two wells drilled, were completed. The Company expects to begin selling gas from the Edirne gas field in the fourth quarter of 2009, subject to completion of a gas gathering facility.
In Morocco, the Company is one exploration well on the Ouezzane-Tissa exploration permit and one well on the Tselfat exploration permit. The Company has switched to an oil-based mud system to alleviate drilling problems encountered. "Our learning curve is improving. I do know that we will get better and that we have saved money utilizing our own equipment rather than outside contractors," Mr. Mitchell added.
In Romania, the Company has drilled two wells on the Izvoru license. The Company expects to complete those wells in the fourth quarter of 2009.
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