Project Profile
Location: City of Diyarbakir, Turkey
Area: 122,965 gross acres
Karakilise Licence 5052 covers an area of 122,965 gross acres and is contiguous with Licences 2674 and 2677, in which Valeura has a 27.5% working interest. The area is prospective for heavy oil in the Mardin Group and light oil in the Bedinan Formation with a number of discoveries in the area. Valeura has been active in this area since late 2010 and has shot 227 km of 2D seismic, carried out a successful well recompletion in the Mardin Group in the Karakilise-1 well on Licence 2677 and drilled a Mardin Group and Bedinan Formation discovery in the Altinakar-1 well on Licence 2674. Valeura and its partners are currently producing the Altinakar-1 well at a rate of 10 to 13 barrels of oil per day (gross) from the Bedinan and a potential fracture stimulation program is under review to improve well productivity. The up-hole Dadas Shale and additional pay in the Mardin Group may also be tested in the Altinakar-1 well. Additional 2D seismic is planned in 2012 prior to any additional drilling in the area.
Operators:
Valeura Energy Inc.: Operator with 100% interest