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Valeura achieves first gas from Banarli

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World Pipelines,

Valeura Energy Inc. has announced that it has achieved first natural gas sales from its first exploration well Bati Gurgen-1 on the 100% owned and operated Banarli licences in the Thrace Basin of Turkey. The well has been on on-stream for nine days and over this period has produced conventional natural gas from the Osmancik formation at an average restricted rate of approximately 3.0 million ft3/d on a 20/64 in. choke at a current flowing tubing pressure of 1570 pounds per square inch.

"We are delighted to reach the important milestone of first gas from Banarli, which has boosted our current sales in Turkey by more than 60%," said Jim McFarland, President and Chief Executive Officer. "We plan to produce the well at restricted rates in the near term and perforate additional pay as pressure and deliverability decline naturally."

The Bati Gurgen-1 well was tied-in through a new 8 in., 3.2 km pipeline to an existing dehydration facility at the Gurgen-1 well (Valeura 40% working interest) on the adjacent joint venture lands acquired from Thrace Basin Natural Gas (Turkiye) Corp. and Pinnacle Turkey Inc. The pipeline has been sized to provide capacity for follow-up wells that could be drilled in the area.

Gas sales commenced from the Bati Gurgen-1 well on 12 March 2016.

Edited from press release by

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