CALGARY, June 22, 2012 /CNW/ - Anatolia Energy Corp. (the "Company")
(TSX-V: AEE) is pleased to announce that it has been jointly awarded
three new Dadas Shale prospective licences in the Gaziantep District in
southern Turkey with its partner, Çalık Enerji San. ve Tic. AŞ.
("Calik"). The three licences cover a contiguous area of 366,990 gross
acres (183,495 net) and are immediately adjacent to the existing Antep
block in which Anatolia can earn a 50% interest.
The addition of these new licences expands Anatolia's acreage position
in the Antep block to 845,418 gross acres (422,709 net) and covers what
the Company believes to be the entire extent of the prospective shale
acreage within the Antep Basin. On June 11, 2012, the Company announced
an updated NI 51-101 compliant resource evaluation report by Ryder
Scott Petroleum Consultants in which it assigned a P50 gross best
estimate of 318 million barrels (159 MMbbls net) of unrisked
prospective resources in the Dadas Shale on the Antep block, excluding
the three new licence awards.
On an aggregate basis, the Company now has an interest in 11 licences in
Turkey with exposure to 1.2 million gross acres (581,429 net) of Dadas
Shale and/or conventional oil prospective acreage.
Within the Antep area, Anatolia has identified an expansive area of
prospective Dadas Shale and a large portfolio of prospects in the
Ordovician Bedinan sand and the Cretaceous Mardin carbonates. Based on
recently acquired and interpreted seismic on the original Antep
licences, Anatolia's technical team has mapped a large, faulted
structure that extends into the newly awarded licences.
The Company, along with its partner, expects to spud its first well at
Antep in August 2012. The targeted well will be drilled on the original
Antep licences, to an approximate depth of 2,600 meters and is expected
to test both the Dadas Shale and the conventional Bedinan Sand which
sits directly below the Dadas Shale. Similar to the recent Caliktepe-2
well, a core will be cut in the Dadas Shale interval and sent for
detailed analysis to a specialized core lab in Calgary. The partners
intend on proceeding with a hydraulic fracture stimulation to obtain
critical data from the shale reservoir to aid in horizontal well and
fracture stimulation design.
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 working
interests 50% in nine exploration licences covering 1,162,856 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 Dadas formation in southeast Turkey
is an extension of the prolific Silurian source rocks of the Middle
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
"Best estimate" means the best estimate of the quantity that will
actually be recovered. It is equally likely that the actual quantities
recovered will be greater or less than the best estimate. If
probabilistic methods are used, there should be at least a 50%
probability (P50) that the quantities actually recovered will equal or
exceed the best estimate.
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