TPAO Spuds Bati Ayazli-1 in Black Sea Off Turkey

Stratic Energy noted that operator TPAO, Turkiye Petrolleri Anonim Ortakligi, the Turkish National Oil Company commenced drilling operations on the Bati Ayazli-1 exploration well in the South Akcakoca Sub basin located in the Black Sea, offshore Turkey. The well commenced operations with the Grup Servicii Petroliere 'Saturn rig' on October 6, 2009. Stratic has a 12.25 percent interest in this well.

The Bati Ayazli-1 exploration well is located to the west of the currently producing Ayazli gas field. This exploration well is targeting on trend additional potential at the reservoir level seen at the Ayazli field and is also targeting a deeper exploration objective. Operations to total depth are estimated to take approximately 49 days.

Dr. Mark Bilsland, Chief Operating Officer, commented, "We are looking forward to the results of this exploration well which is designed to test two stratigraphically separate levels. The deeper stratigraphic target has not been tested before in this area and the results will aid our understanding of the deeper potential in this area. The shallower target, if successful, will provide incremental gas production and will be tied back to the existing Ayazli field facility."