latest update on turkey progress mentions yolboyu-1The third...

latest update on turkey progress mentions yolboyu-1

The third exploration well in the phase 2 drilling program, Yolboyu]1 well
reached a total depth of 2,000 metres (m) on 15 March 2010. Preliminary
evaluation of well logs indicates the potential of gas in the Upper Danismen Formation and the well will
be suspended for future evaluation.
The Operator is preparing to move the rig next well, Somurcali]1.

http://research.iress.com.au/ids/old/20100319/01048585.pdf?uid=E2D315E4D5103A22CF2F45551E625764876B0000429C4CD2D0A9E340F1AB0000F4120000&ppv=

It loos as like they have encountered pay but it is not considered commercial at this stage. Perhaps we will have an update on this later on. The somurcali-1 well is 900m which is much deeper than the present finds of under 500m will be interesting as to how the news of first gas sales are reacted to next week. OEL hasnt been moving with the oil price though one has to think this has got to add some weight behind bhp farming into sc 55 and talks on other more marginal finds such as sc 50 must be picking up as the economics of such finds improve with the oil price. I bought a few more at 10.5 this week hopefuly this will look cheap in a few weeks/ months time. Bring on the turkish gas