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)|
|Licence||Low Estimate (P90)||Best Estimate (P50)||High Estimate (P10)|
|Net to Anatolia (50%)||133||206||320|
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 Licence.
"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 resources.
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 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 release.
For further information:
Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770 ext. 225