Perth, July 8, 2008 AEST (ABN Newswire) - Otto Energy (ASX: OEL)(PINK:OTTEF) and joint venture partner Incremental Petroleum (ASX:IPM) are pleased to announce excellent gas flow rates from the Arpaci-2A appraisal well at the Edirne licence in West Turkey.
Highlights:
- The first zone tested flowed dry gas at a rate of 2.4 MMscf / day from the interval 340-348 metres through a 36/64" choke.
- Two additional pay zones with multiple potential gas intervals exist at shallower levels in the well, which will be added at a later stage.
Arpaci-2A is the last well to be drilled as part of the 2008 campaign which was successfully designed to prove up significant volumes of gas in the Edirne licence. The construction of surface facilities is anticipated to be completed in mid 2009.
The partners in the Edirne Gas project are Otto Energy 35%, and Joint Operators Incremental Petroleum 55%, and Turkish partner Petraco 10%.
Contact
Alex Parks
Chief Executive Officer
Tel: +618 9481 8696
Fax: +618 9481 2394
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