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Drillbit bites at Kirmizihoyuk

Otto Energy said the Kirmizihoyuk-1 exploration well in the Edirne licence, in western Turkey's onshore play, has spudded.

Kirmizihoyuk-1, which spudded yesterday, lies four kilometres north-north-west of the Bati-Umur 1 discovery, drilled last year.

The well will be drilled to 450 metres and is expected to take 12 days to reach total depth.

The partners are targeting prospective gas of about 750 million cubic feet within the Osmancik formation, Otto said in a statement.

Otto holds a 35% stake in Edirne. The licence is operated by joint venture partners Petroleum Exploration Mediterranean (55%) and Petraco (10%).

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