By OGJ editors
HOUSTON, Feb. 28 – The Altinakar-1 well on License 2674 in the Karakilise area of Turkey has drillstem tested 11-13° gravity oil from a carbonate zone near the top of the Cretaceous Mardin Group, said Valeura Energy Inc., Calgary.
The well produced 88 bbl of oil, 52 bbl of drilling mud, and no water in 11 hr of swabbing and flowing operations from a 6-m open hole interval at 1,557-63 m.
Drilling is to continue to the well’s primary exploration target of light oil in the deeper Bedinan formation at 2,500 m. The Mardin Group was viewed as a potential secondary target. Mardin produces oil at Kastel field, 25 km northeast of Altinakar-1, and 30 km northwest at Valeura’s Karakilise-1 well in License 2677.
Valeura and partners have identified more than 20 Mardin and Bedinan prospects and leads on the two licenses. Valeura is operating on a two-phase farmout from Aladdin Middle East Ltd. and Guney Yildizi Petrol Uretim Sondaj, Muteahhitlik ve Ticaret AS to earn a 25% working interest in the two licenses by completing phase one.
Valeura has the option to proceed with phase two, currently under review, for up to $8.8 million in further spending in 2011 and increasing its working interests on a sliding scale to 50% in 2674 and 2677 and to as much as 29.9% in five other exploration licenses in the Rubai area and up to 50% in the Kahta heavy oil production lease.