Amity Says Adatepe-1 Well an Excellent Producer

Amity Oil says the Adatepe-1 well has completed testing and has flowed at a stabilized rate of 13.5 million cubic feet (382,300m3) per day through a 5/8 inch choke at a flowing pressure of 1,320 psia, from 18.5 meters of perforations in the lower sandstone unit only. The perforations are between 1,173 meters and 1,206 meters. A series of flow tests were run through a separator at different choke sizes and two pressure buildup surveys were conducted. No formation water was produced during the tests. The gas has a condensate content about the same as the Gocerler gas (7-8 barrels/million cubic feet).

This is a very pleasing new field gas discovery, with high gas deliverability reservoir characteristics - an excellent result for the company.

The well has been shut in and is ready for production when facilities are available. Amity intends to propose to the Joint Venture, the follow-on drilling of two appraisal wells and the construction of a pipeline link to the Gocerler Gas Processing plant, with the objective of starting commercial production as soon as possible.

The appraisal wells will help define field reserves and can be used for production. An additional 17 meters of good quality gas pay, some 45 meters above the lower sandstone unit, was not perforated at this time. However the well completion is configured so that this upper gas pay can be perforated after more data is available from the appraisal wells.

The Adatepe-1 well is located approximately 6 kilometers southeast of the Gocerler Gas Field and about 140 kilometers west of Istanbul, in the Thrace Basin, Republic of Turkey.

The Adatepe-1 well is located in Thrace Joint Venture Area A, and is operated by Amity Oil International Pty Ltd, a subsidiary of Amity Oil Limited. Amity and Turkiye Petrolleri AO (TPAO) hold equal equity in the JV.