TransAtlantic Plans to Test South Gillock Well

TransAtlantic Petroleum Corp. said that the SGU #96 well on the Company's South Gillock project in Galveston County, Texas, has been drilled to total measured depth of 9,860 feet (9,764 feet TVD). Gas-bearing sands were encountered in the Big Gas Sand formation (Upper Frio) at 8,150 feet.

The SGU #96 well is over 200 feet structurally higher than the SGU #18 well that was shut-in in 1972 after producing over 5 BCF of gas from the Big Gas Sand (as reported to the Texas Railroad Commission). Logs, gas shows and drilling breaks indicate the SGU #96 well also encountered nine potential pay intervals in the Middle Frio sands below the Big Gas Sand. Certain of these Middle Frio sands are productive in the adjacent Gillock and Dickinson fields, but have not been penetrated or produced in the South Gillock field.

The SGU #96 well encountered high pressures below the Big Gas Sand which required the Company to stop drilling and set an intermediate string of casing to 8,210 feet. At total depth, the mud weight reached 14.2 pounds (equivalent to 7,210 psi). The Company will initiate testing of the well in about 10 days after the drilling rig is moved off and a pulling unit is moved on. TransAtlantic holds 100% of the working interest in the well (77% net revenue interest).

TransAtlantic is engaged in the exploration, development and production of crude oil and natural gas in the United States and in Romania, Morocco, Turkey and the U.K. North Sea.