First well spudded in 2008 Edirne gas drilling...

First well spudded in 2008 Edirne gas drilling campaign

Incremental Petroleum (ASX: IPM) and Otto Energy (ASX: OEL) are pleased to announce the spudding of the first well in 2008 of the Edirne gas project in Western Turkey. The 2008 drilling campaign involves the drilling of five wells (Figure 1) targeting a combined 10-20 BCF. The first well, Ikihoyuk 1, will be drilled to a total depth of 520m, and is expected to take about 10 days to complete.


http://www.incrementalpetroleum.com/announcements/ASX%20re%20Ikihoyuk%2020080325.pdf

Incremental have also increased their stake to 55%. With 5 wells to drill there should be a good flow of news over the next few months.

Was hoping to see an update on the USR drills but will probably have to wait for the quarterly. Should be a good one with current oil prices. Fundamentals are pointing one way & the market the other...

Average 2007 oil price $66/bbl for IPM