Otto Energy Spuds Koyustu-1 Well in Turkey

Otto Energy and Incremental Petroleum report that the Koyustu-1 gas exploration has been spud. The well is located in the Edirne License in the Thrace Basin of Turkey.

The well will be drilled to a total depth of 650 meters with the primary target intervals, the Oligocene-Miocene Osmancik sandstones, expected between 350 meters and 500 meters. Total drilling time is expected to take ten days, longer if testing is required.

Following the completion of the Koyustu-1 well, the rig will b emoved to the adjacent Bati Umur-1 gas discovery for flow testing of that well. Bati Umur-1 was drilled by the Otto Joint Venture in December 2005 and wireline logging showed several intervals with gas saturations in reservoir quality sandstones.

Partners in the Edirne License are Otto Energy with 65%; Incremental Petroleum with 15% and Turkish Operations Merty Energy with 10% and Petrako Limited with 10%.