Print Azure Resources reports that drilling of the seismically identified Cayirlik-1 Well (formerly named the “Baglar-1 Well”) Thrace Basin, Turkey resumed on Friday, January 25, 2013 following delays caused by adverse weather conditions, equipment changes etc. Prior to the interruption of the drilling the well reached 217 m. and was cased.
The well is primarily targeting the Tertiary Osmancik Formation for natural gas. The planned total depth is 800 m. The drilling results will be released upon availability. The Catalca Licence covers 36,429 hectares and is situated 30 km. west of Istanbul. The Company has the right to a 45% working interest in the Catalca Licence and 50% of the Company’s interest is subject to an earn-in agreement with Emperor Oil Ltd.