TransAtlantic Petroleum Ltd. is pleased to provide an operations update. Production in the Selmo oil field recently topped 2,000 barrels of oil per day ("bopd") with production expected to exceed 2,200 bopd in the next several weeks.
The Company commenced its in-fill drilling program at Selmo in the third quarter of 2009 and will spud its seventh in-fill well (S-61) in the next few days. The Company's sixth in-fill well (S-52) is currently being completed.
Thrace Basin
On the Edirne license, the Company has drilled the Yolboyu-1, a 6,500-foot exploratory well targeting deeper gas potential to the south of the existing 3D seismic survey. Based upon initial evaluation of the first logs, the well appears to have encountered pay.
Paleozoic Trend in Southeast Turkey
On the Arpatepe license, where the Company holds a 50% interest, the Company acidized the Arpatepe-1 well in early March 2010 to clean up perforations and eliminate damage incurred during the original completion of the Bedinan sandstone. The well is now flowing approximately 500 bopd with essentially no water. In the next several weeks the Company expects to acidize the Arpatepe-2 well to clean up perforations and eliminate damage incurred during the original completion. The Arpatepe-3 well, which was spud in late December, is expected to reach total depth soon.
On License 4174, the Company has cored a section of the Dadas shale in the Gosku-1 well, and has resumed drilling. The Company expects to encounter the Bedinan sandstone and reach total depth soon. The Company also holds an interest in a third well that is currently being drilled in the Paleozoic Trend.
