Toreador Tests Upper Zone in Akcakoca-4

Toreador Resources and its joint venture partners TPAO and Stratic Energy have successfully tested the uppermost of three zones in the Akcakoca-4 well. The flow test resulted in a flow rate of approximately 18.9 million cubic feet of gas per day (MMCFD) with a flowing pressure of approximately 1,314 psi on a 48/64-inch choke. The test was from 11 meters (36 feet) of net pay between 1,284 and 1,295 meters (4,213 and 4,250 feet) true vertical depth. As previously announced, the Akcakoca-4 well, located in the South Akcakoca Sub-basin project area offshore Turkey in the Black Sea, encountered approximately 37 meters (121 feet) of gas-bearing sands in three zones between 1,159 and 1,375 meters (3,083 and 4,502 feet) true vertical depth. The deepest zone, with approximately 13 meters of net pay, tested last week at a flow rate of 8.6 MMCFD. The combined flow rate from the two tests was approximately 27.5 MMCFD.

After well operations are complete on the Akcakoca-4, the Southern Cross will move approximately 2.5 kilometers (1.6 miles) to drill the Guluc-1 well. The Guluc prospect is on a separate fault block further east along the Akcakoca fault trend from the Akcakoca and East Akcakoca structures.

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