CALGARY, May 9, 2012 /CNW/ - Anatolia Energy Corp. (the "Company")
(TSX-V: AEE) is pleased to provide an update regarding recent third
party activities focused on the Dadas Shale in the Southern Anatolia
Basin of southeast Turkey.
Activities focused on the Dadas Shale have increased recently as flow
tests have been reported by other operators in the Bismil-Diyarbakir
area in the Southern Anatolia Basin of southeast Turkey. Turkish
Petroleum ("TPAO"), the national oil company of Turkey, recently
disclosed that light oil or condensate was tested from the Dadas Shale
in a drillstem test in their Ciksor-3 well. (TPAO Exploration Department, March 21, 2012, TUROGE Conference, Ankara
Turkey) This flow test was conducted in a vertical well from an unstimulated
interval in the Dadas Shale and reportedly flowed 19 barrels of 60° API
oil. Similarly, in 2011, TransAtlantic Petroleum tested gas and
condensate from the Dadas Shale in their Goksu well.
In the same TPAO disclosure, TPAO estimates the Diyarbakir Basin could
contain 110 billion barrels of undiscovered original oil in place
(OOIP). Anatolia has the right to earn a 50% interest in approximately
264,000 gross acres (132,000 net) in the shale prospective Bismil and
Sinan licences in the Diyarbakir Basin. Anatolia also has the right to
earn a 50% interest in approximately 478,000 gross acres (239,000 net)
in the shale prospective Antep Basin. There is no certainty that any
portion of these resources will be discovered. If discovered, there is
no certainty that it will be commercially viable to produce any portion
of the resources.
The above described two flow tests, coupled with Anatolia's recent
analysis of the Dadas Shale core as reported on May 3, 2012, leads
Anatolia's management to believe that the Dadas Shale may have the
potential to produce commercial quantities of high quality light, sweet
crude with the use of horizontal wells and multi stage hydraulic
fracturing technology.
In addition to the increased Dadas Shale operational activity, the Dadas
Shale is also attracting attention from some of the world's largest oil
and gas companies. In November 2011, TPAO and Shell announced an
agreement in which Shell will drill five wells into the Dadas Shale
formation in an area located approximately 30 km north of Anatolia's
Bismil licences. (Reuters - November 23, 2011) In March 2012, TPAO also announced that it is in discussions with
Exxon Mobil to jointly explore for shale gas in the country. (Reuters - March 12, 2012)
"Anatolia Energy management is very encouraged by the recent flow tests
which have indicated that unstimulated hydrocarbons can flow freely
within the unstimulated Dadas Shale reservoir. The recent entrance by
Shell in the basin also substantiates our shale strategy" stated
Anatolia Energy CEO, Bob Spring.
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 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 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
Cautionary Statements
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 MD&A dated April 25, 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.
