Amity Finds Gas with East Adatepe-2

On the basis of the wireline log analysis, there is 26.5 meters of net gas pay in four main sand intervals and four minor zones. The lowest zone, which is the main producing interval in the field, will be perforated and production tested in the next few days. Pressure measurements in the lower sand indicate communication with D. Adatepe-1, but not with Adatepe-1, indicating that the east Adatepe wells are in a separate fault block. This was the expected result for the well and a good outcome.

The D. 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 Licence AR/AOI/3338, which forms part of Area "B" of the Thrace Joint Venture and is located approximately 120 kilometres 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 has been drilled into the varved shale below the Danismen gas sands.

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