The following table details the Company's frac results in the Thrace Basin for wells completed since April 1, 2012 (excluding deep targets):

 
Well Working Interest (%) Frac Date # Stages Net Pay (meters) Porosity (%) Peak 24-hour Test Rate (MMcf/day) Initial 7-Day Average (MMcf/day)
Dogu Karya-1 41.5% 5/22/2012 1 4 10 0.2 0.04
TDR-8* 41.5% 5/29/2012 1 3 9 -- --
Kayi-7 41.5% 6/13/2012 1 5 15 0.4 0.4
Guney Kayi-1 41.5% 6/20/2012 3 22 11 0.6 0.4
DTD-1 41.5% 7/11/2012 1 10 16 -- --
TDR 8* 41.5% 7/16/2012 1 8 11 0.3 0.2
Koseilyas-1 41.5% 7/19/2012 1 8 12 1.3 0.7
*TDR-8 underwent two separate completions, one each in the Kesan and Teslimkoy formations. The fracs encountered a water bearing zone. TDR-8 is awaiting further testing after isolating the water bearing zone.  

The latest well in the program, the BTD-3, is the first deep frac in the Tekirdag Field Area and was recently completed in the Kesan formation at approximately 2,500 meters with test rates in excess of 1 MMcf/d while still flowing back.

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