Troubled TransAtlantic widens Turkish acreage

Tapping Turkey: TransAtlantic Petroleum adds concession west of Molla acreage

Struggling Canadian explorer TransAtlantic Petroleum has been awarded a new shale-prospective licence in southeast Turkey as the company's overall production continues to fall short of prior expectations.

The granting of the 61,561-acre West Molla exploration licence takes the company's contiguous acreage in the region to around 160,000 acres, all of which it believes is prospective in the Mardin, Bedinan and Dadas shale formations.

TransAtlantic Petroleum plans to acquire 300 kilometres of 2D seismic and to drill an exploration well on the new license, most likely to test the Bedinan formation, in the first year.

Hamilton, Bermuda-registered, Toronto- and New York-listed TransAtlantic Petroleum is an international explorer with interests in developed and undeveloped properties in Turkey, Bulgaria and Romania.

In January, the…

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