Turkey: Rubai block of licenses canceled

By OGJ editors
HOUSTON, May 9
– Turkey’s General Directorate of Petroleum Affairs has canceled Aladdin Middle East Ltd.’s Rubai exploration licenses 2759, 2598, 2599, 2600, and 2601 in southeastern Turkey for failure to meet the district timing requirements for drilling, said Valeura Energy Inc., Calgary.

The Rubai licenses were part of a farmout from AME and Guney Yildizi Petrol Uretim Sondaj, Muteahhitlik ve Ticaret AS. The Bostanci-1 well, 50% funded by Valeura, was spud on Apr. 24, 2011, on License 2600 aimed at fulfilling the district drilling requirement on the Rubai licenses. Drilling has been suspended, and the well is being temporarily abandoned.

Valeura will meet with partners and GDPA soon to develop next steps. Valeura’s intention would be to reapply for one or more of the licenses.



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