Very, very interestingreleased this morning from another area participant in Turkey.
Selmo Oil Field
Production from the Company's Selmo oil field in Turkey for the first week of January was approximately 2,400 barrels of oil per day, which was slightly lower than the year-end exit rate the Company anticipated in November. "We expected to complete two additional wells before year end, but we were unable to do so. We did, however, successfully fracture stimulate the S-57 well this past week," said Gary Mize, the Company's President. Before fracture stimulation, the S-57 was capable of producing at a rate of about 10 barrels of oil per day, though it was not producing. During swabbing operations after fracture stimulation, the well was swabbed at a rate of approximately 300 barrels of fluid per day, with about a 50% oil cut. Production equipment is now being installed, and the well we be turned to production this week.
"We will closely watch the S-57 well and may fracture stimulate another Selmo well after we fracture stimulate the Dadas shale in the Goksu-1 well on License 4174, before returning the equipment to the Thrace Basin," said Malone Mitchell, the Company's Chairman.
This could be a very, very important piece of the puzzle for the Ogunduk structure.
Additional important news flow is to follow shortly.
I smell cake.