Rick Wilkinson
OGJ Correspondent
MELBOURNE, Sept. 15 -- Antares Energy Ltd., Perth, sold its Turkish gas fields and operations to Zorlu Petrogas, a subsidiary of Turkish energy giant Zorlu Energy, for $54 million (Aus).
The assets, held by Antares Energy's wholly owned Amity Oil International, include a 50% interest in Gocerler, Adatepe, and Cayirdere gas fields in the Thrace basin of western Turkey. A total of 17 bcf of gas and 90,000 bbl of condensate have been produced from these fields since 2003.
An additional $6 million may be paid if the drilling of nominated exploration prospects in the region results in discoveries within 24 months of the sale.
Antares intends to use sale proceeds to fund exploration and development in the US. This work includes seismic surveys in South Texas and Oklahoma and shallow-water drilling in the Gulf of Mexico.
