CALGARY, Jan. 9, 2012 /CNW/ - Anatolia Energy Corp. (the "Company") (TSXV: AEE) is pleased to provide the following update regarding its Turkish and Colombian operations.
Caliktepe-2 Well - Turkey
The Caliktepe-2 well on the Bismil license (25% net interest) was drilled by the Company's joint venture partner, Çalık Enerji Sanayive Ticaret A.Ş. ("Calık") to a total depth of 2,500 meters and reached its primary target - the Bedinan sand. The well has now been cased and the drilling rig was released on December 20th. A service rig arrived on site on January 3rd and the Company anticipates that perforating and testing of the primary target will commence around January 13th. Testing operations are expected to take between two to three weeks with results to follow in February 2012.
During the drilling of Caliktepe-2, five cores were taken in the Dadas shale. These cores have been transported to Calgary where they will be analyzed using advanced processes specifically designed for shale reservoirs. The Dadas shale displayed oil source properties and the potential to be developed into an unconventional oil reservoir.
Seismic Program - Turkey
Along with joint venture partner Calık, five separate seismic programs on the Bismil, Antep and Besni licenses have now been completed. In Bismil, the Company completed a 115 km 2D seismic program and a 206 km² 3D seismic program. Processing and interpretation of the data is currently being conducted on an expedited basis to aid in the analysis of the Caliktepe-2 well and subsequent wells. In addition, 377 km of 2D seismic from two separate programs was acquired on the Antep license (50% net interest) and 96 km of 2D seismic was acquired over the Besni license (50% net interest). Processing and interpretation of the data is currently being completed.
Las Palmeras Well - Colombia
The Company continues to focus on drilling its first exploration well (Las Palmeras) on the LLA-24 block in the Llanos Basin in Colombia. Pre-drilling activities, including road construction, are currently underway and the well is expected to commence on or around the second week of February 2012. Upon drilling of the Las Palmeras well, Anatolia will earn a 35% working interest in the block, which covers an area of approximately 147,000 gross acres (51,450 net acres) and is surrounded by high rate light oil production. The Las Palmeras well is expected to test a conventional structural closure in the C7 and Guadalupe formations and a potential stratigraphic trap in the Mirador and Ubaque/Gacheta formations. 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. Through its wholly-owned subsidiary, Anatolia Energy (Turkey) Inc., Anatolia has the right, pursuant to its joint venture agreements with Calık, 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, 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 high rate 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