Azure Resources starts drilling one well at Catalca
2012-10-16 14:17 ET - News Release
Dr. Waseem Rahman reports
DRILLING COMMENCES ON THE CATALCA HYDROCARBON LICENCE, THRACE BASIN, TURKEY
Azure Resources Corp.'s drilling rig is on-site at the Catalca licence, Thrace basin, Turkey, where Merty Energy of Turkey is the joint-venture operator, and drilling of the seismically identified Baglar-1 well has commenced. The well will primarily target the Tertiary Osmancik formation for natural gas. The planned total well depth is 800 metres. Completion results from the well will be released upon availability. The Catalca licence covers 36,429 hectares and is situated 30 kilometres west of Istanbul. The company has the right to a 45-per-cent working interest in the Catalca licence and 50 per cent of the company's interest is subject to an earn-in agreement with Emperor Oil Ltd.