Stratic Energy Corporation announces the results of recent exploration drilling in Turkey and Morocco. Akcakoca-3 confirms the "deeper water" reserve potential of the Akcakoca trend in the SASB.

The Akcakoca-3 exploration well, the first well in the drilling sequence for the Atwood "Southern Cross" semi-submersible rig to assess the reserve potential in the slightly deeper waters of the South Akcakoca Sub-basin ("SASB") of the Black Sea, offshore Turkey, has been drilled to a total depth ("TD") of 2200 meters.

The target zones are in the same Eocene-age Kusuri Formation reservoir sandstones as encountered in recent jack-up appraisal and development drilling along the shallower Ayazli-Akkaya trend to the south and closer to the shore.

Logging operations on the well continue with early results indicating the presence of approximately 80 meters net gas pay within a series of at least seven sand prone intervals developed between 1696 and 2130 meters. Upon completion of logging operations, production casing will be run and the well tested to confirm deliverability and the dynamic properties of the reservoir sandstones.

It is anticipated that the well, which was drilled as a deviated well from a surface location between the Akcakoca discovery and the Akcakoca East prospect, will be suspended and used in any future tie-back of the Akcakoca trend to the gas infrastructure and pipeline network already deployed to develop the shallower water Ayazli-Akkya trend.

The "Southern Cross" is expected to drill the next well in the sequence on the Akcakoca East prospect from the same surface location, enabling development of both accumulations, if successful, from a single platform structure. The rig will then move to Bulgarian waters to drill for another operator before returning to Turkish waters to drill a possible third well on the Akcakoca trend. Toreador, as Operator, estimates that 60% of the potential reserves in the project area will be found along the deeper-water Akcakoca trend.