Amity to Spud East Adatepe-2 Well in Turkey

Amtiy Oil reports that the East Adatepe-2 well will spud this week. This well is an appraisal well of the eastern fault block of the Adatepe field and will be operated by TPAO. There is a high likelihood that this well will be successful and tied into the Amity operated Adatepe gas processing facility.

The East Adatepe-2 well is the fifth appraisal/development well on the Adatepe Field located approximately 6.5 kilometers southeast of the Gocerler Gas Field.

The well is in Petroleum Exploration License AR/AOI/3338, which forms part of Area "B" of the Thrace Joint Venture and is located approximately 120 kilometers west of Istanbul in Turkey's onshore Thrace Basin.

The Adatepe structure is a faulted anticlinal closure located on a northwest-southeast trending fault bound horst in an area coincident with strong amplitudes on the 3D seismic data. The closest wells to D. Adatepe-2 are D. Adatepe-1, Adatepe-2, and Adatepe-3. D. Adatepe-1 previously tested the hydrocarbon and reservoir potential of the Danismen sands in a separate fault block from the western part of the field. The well will be drilled into the varved shale below the Danismen gas sands.

Participants in the well are Amity Oil International Pty Ltd 50% and Türkiye Petrolleri A.O. 50% (operator)