Anatolia Energy Corp. announces resumption of trading and provides overview of assets

13.12.2011  |  CNW

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

CALGARY, Dec. 13, 2011 /CNW/ - Anatolia Energy Corp. (the "Company") (TSX-V: AEE) is pleased to announce that further to its press releases of December 5, 2011, the Company will commence trading at market open on the TSX Venture Exchange under the symbol "AEE".

In addition, Anatolia is pleased to provide the following information concerning the oil and gas assets of Anatolia.


Summary of Anatolia's Assets

Through its wholly-owned subsidiary, Anatolia Energy (Turkey) Inc., Anatolia has the right, pursuant to its joint venture agreements with Çalık Enerji Sanayive Ticaret A.Ş. ("Calık"), the wholly-owned oil and gas subsidiary of the large Turkish conglomerate Çalık Holding A.Ş., to earn working interests between 25% and 50% in two development licences and 50% in six exploration licences covering an aggregate of 336,509 net acres of land in Turkey's proven Southeastern Anatolia oil basin.

Anatolia is focused on four play types in Turkey namely the Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend, Garzan reef trend and Silurian Dadas shale oil trend. Anatolia will jointly operate its assets with Çalık and will have final say on all operating decision during the company's earning phase.

In addition, the Company can earn up to a 35% working interest in 51,450 net acres in the LLA-24 block in the Llanos basin, Colombia which is surrounded by high rate light oil production. The company's licences are further discussed below:


Bismil Licences (Conventional) - 25% Working Interest

The development licences contain 61,425 net acres and two trends and eight defined conventional prospects. The identified conventional prospects are focused on the Bedinan sand oil play that has been proven in the Arpatepe and Caliktepe discoveries. There is also an identified Garzan reef structure that the company believes could contain possible bypassed oil pay.

A 2D seismic program has been completed over the western portion of the licences. A 3D seismic survey is currently being completed over the northern third of the licence area. The Company's Caliktepe-2 updip delineation well on the Bismil license in Turkey is expected to reach total depth of 2,500 metres this week with results to follow in December or January.


Bismil Licences (Unconventional) - 50% Working Interest

Anatolia also has an option to earn a 50% working interest in an unconventional resource in the Silurian Dadas shale source rock. This shale has been identified as the source rock for much of the oil generated in the Middle East and has been penetrated by the Caliktepe-1 well and in more than 12 other wells in the region immediately adjacent to the Bismil licences. This shale has characteristics similar to the proven shale oil producing reservoirs in North America (specifically the Niobrara play in Wyoming and Colorado).

Most recently, another Turkish operator was successful in flowing hydrocarbons from a vertical well in the Dadas shale. This is a very significant milestone as it proves the flow capability of the hydrocarbons within the shale and increases the commercial viability of realizing the vast potential of this resource.

Anatolia plans to conduct technical studies to design a program that will test the flow capability of the Dadas shale. As part of these studies, the Company is currently collecting core samples from the Dadas shale in its Caliktepe-2 well and will export the core samples to Canada to conduct material composition analysis to better understand the shale characteristics. If these studies lead to the development of a testing program that is technically and economically feasible, "mini" hydraulic fracturing tests may be conducted in two wellbores. One of these tests may be conducted in the previously drilled Caliktepe-1 well and the other may be conducted in a new well.


Antep Licences - 50% Working Interest

The four Antep exploration licences contain 239,214 net acres and four defined conventional prospects. The identified conventional prospects involve the Bedinan sand oil play in large fault blocks in addition to shallower Cretaceous fault traps which have been subsequently identified with the newly acquired seismic. The prospects are situated in a structurally low area where it is expected that the Silurian Dadas shale will be present. The Dadas oil source rock is also expected to be attractive as an unconventional shale oil prospect.

Anatolia recently completed a 295 km 2D seismic survey covering these prospects and a well is planned for Q3 2012 to test the largest of these prospects.


Besni Licence - 50% Working Interest

The Besni exploration licence contains 26,953 net acres and four prospects involving the Mardin carbonate reservoirs in a complex "strike slip" structure where these reservoirs are expected to be heavily fractured. The structurally highest areas where these fractured reservoirs should trap oil have been identified on the existing seismic data. The recent oil discovery at the Sambayat oilfield (discovered in 2008 by Turkiye Petrolleri Anonim Ortakligi ("TPAO") and flowed 3,000 bbl/d from the initial discovery well and currently has nine producing wells) proved that structural highs in this trend have excellent productive capability.

A 100 km 2D seismic program has been completed and is currently being processed in an effort to further refine the image of these prospects. An exploration well is planned for late 2012 or early 2013 to test the best prospect on this licence.


Sinan Licence - 50% Working Interest

The one exploration Sinan licence contains 8,917 net acres and Anatolia has yet to identify prospects on this licence area at this time given that it has just received the historical seismic data. As such, Anatolia presently does not intend to perform any drilling on this licence until it has processed and reviewed the historical seismic data over the area and prospects have been defined. This licence is approximate 25 km north of the Bismil licences and could be prospective both for conventional Bedinan sand prospects as well as Silurian Dadas shale.


Summary of Prospective Resources in Turkey

The following table summarizes Anatolia's net prospective resources in Turkey, which were evaluated by AJM Petroleum Consultants Ltd. ("AJM") in a NI 51-101 resource report dated May 2011 with an effective date of April 30, 2011:

                                     Low Estimate  Best Estimate  High Estimate
Licence/Project    Target Formation     (Mbbls)        (Mbbls)       (Mbbls)
Bismil          Bedinan/Garzan Reef      1,561          2,733         5,386
Bismil                  Dadas Shale      9,488         24,880        65,242
Antep                       Bedinan      7,227         16,929        41,151
Besni                        Mardin      3,841          7,805        17,068
Total                                   22,117         52,347       128,847

No prospective resources were assigned to the Sinan licence as Anatolia only recently received the historical seismic data.


Llanos Basin Colombia

The company can earn up to a 35% working interest in 51,450 net acres in LLA-24 which is surrounded by high rate light oil production. The company acquired and processed 207 km² of 3D seismic in the southern portion of the block and the company expects to drill the first exploration well Q1/2012 and will test conventional structural closure in C7 and Guadalupe and a potential stratigraphic trap in the Mirador and Ubaque/Gacheta.


About Anatolia Energy Corp.

Anatolia is an international oil and gas company engaged in the exploration and development of its land holdings in Turkey and Colombia. Through its wholly-owned subsidiary, Anatolia Energy (Turkey) Inc., Anatolia has the right, pursuant to its joint venture agreements with Çalık Enerji Sanayive Ticaret A.Ş. ("Calık"), the wholly-owned oil and gas subsidiary of the large Turkish conglomerate Çalık Holding A.Ş., to earn working interests between 25% and 50% in two development licences and 50% in six exploration licences covering an aggregate of 336,509 net acres of land in Turkey's proven Southeastern Anatolia oil basin. Anatolia is focused on four play types in Turkey namely the Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend, Garzan reef trend and Silurian Dadas shale oil trend. The Silurian Dadas shale oil play in Turkey is the major source rock throughout the Middle East.


Cautionary Statements

Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that it will be commercially viable to produce any portion of the prospective resources.

Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: operational decisions and the timing thereof, and timing for drilling and exploration plans on the properties of Anatolia. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although Anatolia believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Anatolia can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Anatolia undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. For further information on the Company and the risks associated with its business, please see the Company's Joint Information Circular dated November 7, 2011, which is available on SEDAR at. In addition, statements relating to "prospective resources" contained herein are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the resources described can be economically produced in the future.

The reader is cautioned not to place undue reliance on this forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.



For further information:

Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770