Under Allchurch Amity has grown from a very small explorer to an established gas producer in Turkey and most recently an ASX200 company. Amity said the two are parting ways on the very best of terms.
In the last six months alone Amity's share price has rocketed from 58 cents to over $1.41 before settling around the $1.15 mark.
In its latest venture Amity has released all interest in the Yesiltepe-1 well following the completion of the second production test last Friday.
Omax Resources and the Krystal Corporation sole risked the test and will continue operations in an equal share joint venture.
However, on the basis of the current data, the zone is not believed to be material to Amity Oil International.
The Yesiltepe-1 well is located 70km east of the city of Adana and 9km north-west of Dortoyl, a major crude oil and bulk LPG handling centre.
The Yesiltepe-1 well was a wildcat exploration well, positioned to drill an on-shore anticlinal structure near the Turkish Mediterranean coast, close to substantial gas markets and crude oil handling facilities.
