Otto, Incremental Celebrate Successful Flow Test of Turkey's Ikihoyuk

Joint venture partners Otto Energy and Incremental Petroleum announce that the Ikihoyuk-1 well was flow tested on May 23 and 24.

Turkey's Ikihoyuk-1 flowed dry gas at rates up to 3.8 MMscf/d gas over the interval 444m – 453m on a 38/64" inch choke. This rate is the highest so far seen from Otto's Edirne wells and is from only one of three similar zones in this well.

Ikihoyuk-1 was the first well drilled as part of a campaign designed to prove up significant volumes of gas to enable a combination of these gas discoveries to be placed on production by mid-2009. The recently drilled gas discoveries Ikihoyuk-1, Kuzey Arpaci-1 and the original discovery well Arpaci-1 will be tested in succession in the coming weeks before returning to the Arpaci-2 location for a re-drill of that gas well.

The partners in the Edirne Gas project are Otto Energy 35%, and Joint Operators Incremental Petroleum 55%, and Turkish partner Petraco 10%.