Incremental, Otto move to FEED in Turkey

THE six gas wells drilled to date in Incremental Petroleum and Otto Energy's Edirne Gas project in Western Turkey have discovered sufficient gas to proceed to front-end engineering design.

Incremental said the wells drilled in 2007 and 2008, along with a fourth well spudded today, would be placed on production with first sales expected before mid 2009.

The Arpaci-2 well is the fourth well of a five well drilling program in the Thrace Basin and is expected to reach planned total depth of around 480m by early next week, Incremental said.

Arpaci-2 is 650km northeast of Arpaci-1, which was drilled in January 2006.

Incremental holds a 55% stake in the Edirne licence, while Otto Energy has 35% and Turkish company Petraco holds the remaining 10%.