Operational Update

Aladdin Middle East Ltd. (“AME”) issues the following operations update. The information contained herein has not been audited and may be subject to further review.

 

Cem Sayer, AME Chairman of the Board and the President, said

 

“We will continue to invest in exploration and production without losing speed”. Sayer noted that "Our assets and our long-term plans are based on selected projects which creates value. As we have seen recently this approach delivers promising results”. 

 

Oymantepe Field (Eruh Exploration Licence)

 

East Sadak 5 Well was put on production in October. Current Cretaceous production from Oymantepe field is averaged 1,000 bopd.

 

Further development wells are planned. East Sadak-6 well (‘ES-6’) will be spudded in early December.

 

 

ES-5 Well

 

 

Petek Production Lease (Diyarbakir)

 

Petek-2 well was put on production in October. Further development of the field will be based on production results.

 

AME holds 50% working interest in the Lease.

 

 

 

Petek Oil Field