TransAtlantic updates southeast Turkey operations

TransAtlantic Petroleum Ltd., Dallas, said it has five horizontal wells awaiting completion with a coiled tubing unit in southeastern Turkey, where it is running three rigs.

In the Molla drilling program, TransAtlantic in August drilled the 100% working interest Goksu-5H horizontal well to the Cretaceous Mardin zone at 5,400 ft measured total depth for $2.8 million.

The five horizontal wells that await completion are Goksu-5H, Alibey-1, Oba-1, and two wells in Selmo oil field. The company expects to complete and test these wells in this year’s last quarter.

TransAtlantic is drilling two exploratory wells in the Molla area. The 100% working interest Tepe-1 has a targeted depth of 9,500 ft in the Mardin and Ordovician Bedinan formations on a license the company acquired in May. The 50% working interest Ambarcik-2 has a planned total depth of 9,750 ft targeting the Bedinan formation on the Arpatepe license.

The company expects to drill at least one 50% interest vertical well in the Arpatepe field in the fourth quarter.

TransAtlantic has shot 140 sq miles of the 300 sq mile 3D seismic program over Molla and the surrounding areas generally between Diyarbakir and Bismil. To date nearly the western half of the area has been covered.

In the Selmo field redevelopment, TransAtlantic recently drilled a 100% working interest horizontal well targeting the MSD zone at 5,200 ft for $2.2 million. It is drilling a second horizontal MSD well and will complete both in October 2013. TransAtlantic plans to drill two to five more Selmo horizontal wells targeting the MSD zone in the fourth quarter.

Based on the success of the Selmo-13H horizontal well, which targeted the LSD zone at a depth of 6,000 ft and is producing more than 300 b/d of oil, TransAtlantic expects to drill two more Selmo horizontal wells targeting the LSD zone in the fourth quarter.

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