CALGARY, March 13 /CNW/ - Stratic Energy Corporation and its joint
venture partners TPAO (the Turkish national oil company) and Toreador
Resources Corporation today announced two further gas discoveries in the South
Akcakoca Sub-Basin in the Black Sea, offshore Turkey.
The Guluc-1 exploration well, which was drilled using the "Atwood
Southern Cross" semi-submersible was drilled on a separate structure (named
Guluc) on the same geological trend as the existing Akcakoca and Akcakoca East
discoveries recently announced. The Guluc-1 well discovery well encountered
gas-bearing sands in six zones between 1,226 and 1,453 meters true vertical
depth in the same Eocene-age Kusuri formation as in the other wells in the
South Akcakoca Sub-Basin. The well was tested and flowed approximately 17
million cubic feet of gas per day through a 48/64-inch choke at a flowing
pressure of approximately 1,180 psi from approximately 37 meters of
perforations across all six zones.
The Alapli-1 exploration well, which was drilled by TPAO using the
"Prometheus" jack-up rig, was located on a separate structure to the north-
east of the Akkaya field, which is currently under development. The Alapli-1
discovery well encountered gas-bearing sands in three zones between 1,068 and
1,242 meters true vertical depth. The two lower zones, with approximately 12
meters of net pay, tested at a flow rate of 6.8 million cubic feet of gas per
day with a flowing pressure of approximately 1,064 psi on a 32/64-inch choke.
Another zone from 1,239 to 1,242 meters true vertical depth will also be
tested within the next few days.
The Atwood Southern Cross rig has now completed its initial three well
program in the South Akcakoca Sub-Basin and will be released to work for
another operator offshore Bulgaria. The "Prometheus" jack-up rig will drill a
well for TPAO in another permit area before coming back to the South Akcakoca
Sub-Basin to set the Ayazli tripod and topsides in late April.
Good progress continues to be made towards first gas production from the
area. The topsides for the Akkaya production tripod have been set and secured.
The next steps involve tying in the three Akkaya wells to the production
manifold and from there to the offshore pipeline system. Once this work is
complete, estimated by the operator to take approximately two weeks, the wells
will be ready to be put on production.
The topsides for the Dogu Ayazli tripod are on location, waiting for seas
to moderate before attempting to lift the structure onto the tripod. The
operator estimates that approximately two weeks will be required to tie in the
two Dogu Ayazli wells and the offshore pipeline once the topsides are secured.
Stratic's President & Chief Executive, Kevin Watts commented "The results
from the three-well Atwood Southern Cross drilling program have been
encouraging in proving up gas reserves in the slightly deeper water area of
the South Akcakoca Sub-Basin. We look forward to working with our partners
over the coming months to determine the optimum development scheme for this
new area of the basin. The results so far from the Alapli well, which is close
to the Akkaya field, are in line with our expectations and we await with
interest the results of the second flow test over the next few days."
Further information on Stratic and its operations can be found on the
company's website at www.straticenergy.com.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
For further information:
For further information: Kevin Watts, President & Chief Executive, +44
20 7016 6421; Roger Fullerton, Manager, Investor Relations, (952) 929-7243;
Website: www.straticenergy.com, Email: firstname.lastname@example.org