CALGARY, June 11, 2012 /CNW/ - Anatolia Energy Corp. (the "Company" or
"Anatolia") (TSXV: AEE) is pleased to report the results of an
independent, NI 51-101 compliant resource evaluation report (the "Ryder
Scott Report") of the Company's unconventional shale resource that has
been completed by Ryder Scott Petroleum Consultants ("Ryder Scott") and
has identified a P50 gross best estimate of 11.6 billion barrels of
original oil in place ("OOIP") on the Company's prospective Dadas Shale
acreage in Turkey in which it holds a 50% interest.
Gross Original Oil in Place (Million barrels)
Low Estimate (P90)
Best Estimate (P50)
High Estimate (P10)
Ryder Scott has assigned a P50 gross best estimate of 412 million
barrels (206 MMBbl net) of recoverable oil in the Company's Dadas Shale
prospective acreage in the Bismil, Antep and Sinan Licences. This is a
substantial increase from the Company's previous resource report, which
allocated 24.9 MMBbl net from the Dadas Shale in only the Bismil
Licences. (AJM Report, April 30, 2011)
Gross (100%) Unrisked Prospective Recoverable Oil Resources (Million barrels)
Low Estimate (P90)
Best Estimate (P50)
High Estimate (P10)
Net to Anatolia (50%)
Unrisked prospective resources are the arithmetic sum of multiple
probability distributions and resulted in ultimate recovery factors
ranging between 3% and 4% of OOIP. This is in-line with the recovery
factors initially experienced at other shale oil developments including
the Barnett, Eagleford and Niobrara.
The Ryder Scott Report includes data from the Caliktepe-2 well drilled
in the Bismil Licence in January 2012, shale core extracted from the
Caliktepe-2 well and significant new and re-interpreted seismic data
acquired over the past year including 206 km² of 3D seismic from the
Bismil Licence and 377 km of 2D seismic acquired over the Antep
"We are very pleased with the significant increase in our estimated
shale oil resources. In a little over a year, the Company has developed
its asset portfolio in Turkey which has resulted in a significant
increase in prospective resource value. The Ryder Scott Report
incorporates the updated information from all of the hard work the
Anatolia and Çalık teams have collaborated on over the past year and
provides further validation of the significant Dadas Shale potential on
our Turkish licences. We continue to be excited with the prospectivity
of the Dadas Shale and we will remain focused on further advancing the
development of this resource", stated Anatolia CEO, Bob Spring.
Investor Conference Call
Anatolia Energy will be hosting a conference call on Tuesday June 12 at 9:00 a.m. MST to further discuss the results of the Ryder Scott Report.
Interested parties may access the conference call by dialing
403-451-9838 (domestic) or 888-231-8191 (international). The conference
ID is: 89544660.
For interested parties unable to participate, an audio replay of the
call will be available on the Company's website (www.anatoliaenergy.com). Following the call on Tuesday, Anatolia will also provide an updated
corporate presentation on its website.
About Anatolia Energy Corp.
Anatolia is an international oil and gas company engaged in the
exploration and development of oil and gas assets in Turkey. Anatolia
has the right, pursuant to its joint venture agreements with Çalık
Enerji San. ve Tic. AŞ., the wholly-owned oil and gas subsidiary of the
large Turkish conglomerate Çalık Holding A.Ş., to earn working
interests between 25% and 50% in two development licences and 50% in
six exploration licences covering 795,866 gross acres of land in
Turkey's proven Southeastern oil basin. Anatolia is focused on four
play types in Turkey namely the Silurian Dadas shale oil trend,
Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend and
Garzan reef trend. The Silurian Dadas shale oil play in Turkey is the
major source rock throughout the Middle East.
Prospective resources are those quantities of petroleum estimated, as of
a given date, to be potentially recoverable from undiscovered
accumulations by application of future development projects.
Prospective resources have both an associated chance of discovery and a
chance of development. There is no certainty that it will be
commercially viable to produce any portion of the prospective
Certain information included in this press release constitutes
forward-looking information under applicable securities legislation.
Such forward-looking information is provided for the purpose of
providing information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as making
investment decisions. Forward-looking information typically contains
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this press release may include, but is
not limited to, information with respect to: ultimate viability of the
Dadas Shale, operational decisions and the timing thereof, and timing
for drilling and exploration plans on the properties of Anatolia.
Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information but which
may prove to be incorrect. Although Anatolia believes that the
expectations reflected in such forward-looking information is
reasonable, undue reliance should not be placed on forward-looking
information because Anatolia can give no assurance that such
expectations will prove to be correct. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions which
have been used. Anatolia undertakes no obligation to update
forward-looking statements if circumstances or management's estimates
or opinions should change, unless required by law. For further
information on the Company and the risks associated with its business,
please see the Company's AIF dated June 4, 2012, which is available on
SEDAR. The reader is cautioned not to place undue reliance on this
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Anatolia Energy Corp.
For further information:
Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770 ext. 225