Anatolia Energy announces spudding of the Las Palmeras-1 well in Colombia
Feb 21, 2012, 09:00 ET
CALGARY, Feb. 21, 2012 /CNW/ - Anatolia Energy Corp. (the "Company") (TSX-V: AEE) reports that it has been informed by the operator that the initial exploration well (Las Palmeras-1) on the LLA-24 block in the Llanos basin in Colombia was spud on February 19, 2012. The block has multi-zone stacked potential in the C7, Mirador, Guadalupe, Gacheta and Ubaque sandstones and is expected to be drilled to a depth of around 8,000 feet (2,500 meters). Drilling is expected to take approximately 20 days to reach total depth and could potentially be followed by an additional 10 day testing period. Upon drilling of the Las Palmeras-1 well, Anatolia will earn a 35% interest in the block. The block covers an area of approximately 147,000 gross acres (51,450 net) and is surrounded by light oil production and numerous oil field discoveries. Assignment of Anatolia's interest in the LLA-24 block is subject to approval by the Agencia Nacional de Hidrocarburos.
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 and Colombia. Anatolia has the right, pursuant to its joint venture agreements with Calık Enerji, 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 an aggregate of 336,509 net acres of land in Turkey's proven Southeastern oil basin. Anatolia is focused on four play types in Turkey namely the Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend, Garzan reef trend and Silurian Dadas shale oil trend. The Silurian Dadas shale oil play in Turkey is the major source rock throughout the Middle East. In Colombia, Anatolia holds a 17.5% interest, subject to approval by the Agencia Nacional de Hidrocarburos, and has the right to earn an additional 17.5% interest in the LLA-24 block in the prolific Llanos Basin. The block covers an area of approximately 147,000 gross acres (51,450 net acres) and is surrounded by light oil production.
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: 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 Joint Information Circular dated November 7, 2011, which is available on SEDAR. The reader is cautioned not to place undue reliance on this forward-looking information.
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 press release.
For further information:
Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770 ext. 225
Share this article