Total Land Package: 36,429 hectares (90,018 acres)
Target: Conventional Gas
Emperor Oil Ltd. (the "Company") has partnered with Azure Resources Corporation to earn a 22.5% net working interest in Azure's 45.0% interest in the Catalca Hydrocarbon Licence located in Turkey's Thrace Basin - the most prolific gas producing basin in Turkey. The Catalca Licence covers 36,429 hectares situated some 30 km. west of Istanbul and is approximately 3 km. from a pipeline tie-in-point for sales at significantly better prices than currently available in North America. Azure is a joint operator with Merty Energy Petroleum Exploration Services Inc., a local drilling and exploration company that has been operating in the region for over 20 years.
The Company reports that 112km of 2D infill seismic has been completed and interpretation of the data is currently underway. 5 separate seismic structural leads have been identified thus far and the companies plan to drill 2 wells which are expected to produce similar results as their Damlica-1 well which was successfully drilled in 2010 - Obtaining a gas discovery with good reservoir qualities; 29% porosity and 500 m.darcy permeability. The overall target depth in the licence; is up to 800 m. The comparative flow rates in the basin are up to 500,000 m3/day.
The licence area is 36,429 hectares and is located 30 km. west of Istanbul in the Thrace Basin -. The block is approximately 3 km. from the pipeline tie-in point. Gas is currently priced between $8.00 to $9.00/MCF in Turkey.
The Thrace Basin is located in the European part of Turkey, to the west of Istanbul. The Thrace Basin is the most important gas producing basin in Turkey with more than 15 gas fields and 3 oilfields have been discovered in this basin and 70% of the basin remains under explored. The Thrace Basin has excellent infrastructure and is a Tertiary Clastic Basin.
2012 - 2013 Development Plan