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Otto Energy Operations Update in Turkey

Source: www.gulfoilandgas.com 6/10/2009, Location: Europe

Otto Energy Ltd provides an update on its exploration drilling programs in Turkey.

Turkey-Edirne Licence
The Kirmizihoyuk-1 exploration well was drilled and encountered gas over a number of zones of between 3 and 15 metres (m) gross thickness at depths of 330-480m. Over the past week, the upper intervals of seven sets of perforations over a total perforated length of 41m were tested. These intervals flowed gas at individual rates of up to 1.5 MMscf per day with some water production. Total combined rates of the individual zones were around 4.8 MMscf per day. The well will be completed as a future producer.

Name of well : Kirmizihoyuk-1
Spud date : 13 May 2009
Depth of wel l: Total Depth 500m
OEL beneficial interest : 35%

The rig has been moved to the Ikihoyuk-2 discovery well for testing, which is expected to commence later this week.

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