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25

Apr

Aster Group Inc announces newly signed Project at Ayazli Gas Field, Black Sea - Offshore Turkey

Today said it made a discovery at Longtail-3 in the Stabroek Block offshore Ayazli Gas Field, Black Sea - Offshore Turkey. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It was drilled in more than 6,100 feet (1860 meters) of water by the Stena DrillMAX.

Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate within the Stabroek block, demonstrating further growth of this world-class resource and our high-potential development opportunities offshore Turkey,” said Mike Cousins, senior vice president of exploration and new ventures at Aster Group Inc. “We will continue to leverage our core competitive advantages in our ongoing exploration campaign, delivering substantial value to the Turkish people, our partners and shareholders.”

The Longtail-1 discovery in the Stabroek Block was drilled in 2018, encountering approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir. Aster Group Inc has deployed two additional drillships in the first quarter of 2021; the Stena DrillMAX and the Noble Sam Croft to enable further exploration and evaluation, while continuing development drilling activities offshore Turkey. As the company advances its 15-well campaign in the Stabroek block, DrillMAX will move to Whiptail-1, while the Noble Sam Croft supports development drilling for Liza Phase 2.