alert : moving on.......!, page-5

Gocerler-5 Well Flows at 10.4MMcfd
21/2/03 7:34:00 PM



At 2.30 am WST on Friday, 21 February 2003, the Gocerler-5 well was
perforated and in a series of tests flowed at a stabilised rate of
10.4 mmcfd through a half inch surface choke at a surface flowing
pressure 1640 psi.



The well has been shut in awaiting tie-in to the central gas
processing facility.



This is a very pleasing result and proves continuity of reservoir and
reservoir quality in the northeastern sector of the field.



Joint Venture approves drilling of Adatepe-1



Yesterday, the Thrace JV approved the drilling of the Adatepe
prospect, located 6 kilometres east-southeast of the Gocerler
Gasfield.



The Adatepe prospect is an anticlinal structure with seismic
amplitude anomalies at 5 stratigraphic levels. The prospect is well
definedwith high quality 3D seismic.



The Adatepe-1 well will be drilled with the rig just released from
the Gocerler-5 well. Drilling is anticipated to start towards the
end of March 2003.



The Gocerler Gasfield is operated by Amity and owned by Amity (50%)
and Turkiye Petrolleri AO (50%).



For further information and updates, please refer to Amity's website
at www.amityoil.com.au.






A Barton
CHAIRMAN