Turkey
Stratic holds a 12.25% working interest in eight contiguous near-shore permits located in the South Akcakoca Sub Basin of the Black Sea, offshore Turkey. These blocks contain the producing Akkaya, East Ayazli and Ayazli fields, the Akcakoca and Akcakoca East discoveries currently under development and the Bayhanli, Alapli, Guluc and West Eskikale discoveries awaiting tie back to existing infrastructure.
The interests in the Turkish Permits were acquired by Stratic on 4th January 2005 through the drilling of the successful farm-in well, Ayazli 1. The permits cover approximately 3,900 km2 in water depths ranging from less than 100 m to over 1.7 km. Turkiye Petrolleri Anonim Ortakligi, the Turkish national oil company (“TPAO”) holds a 51% working interest and is operator of the permits.
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