Emperor Oil Ltd. provide the following exploration update from the Company's partners Azure Resources Corporation, ('Azure') and Merty Enerji Petrol Arama,('Merty'), on the Catalca Natural Gas Licence (the 'Catalca License') in Turkey's Thrace Basin. Azure reports that drilling of the seismically identified Cayirlik-1 Well (formerly named the 'Baglar-1 Well') resumed on Friday, January 25, 2013 following a brief delay. As previously announced, a planned well depth of 800m was interrupted at 217m due to adverse weather conditions and equipment changes.

The well is primarily targeting natural gas in the Tertiary Osmancik Formation which is approximately 3 km. from a pipeline tie-in point. The Catalca Licence covers 36,429 hectares and is situated 30 km. west of Istanbul in the European part of Turkey where natural gas is currently priced at a premium to North American markets. The Thrace Basin is the most important gas producing basin in Turkey with more than 15 gas fields and 3 oilfields. 70 % of this basin remains unexplored.

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