Press Releases

AME Press Release – Resan License


27/07/2020


 

AME is pleased to announce that it signed a binding heads of agreement with UK Oil & Gas Plc (London AIM: UKOG) to take a 50% non-operated working interest in our Reşan Exploration License                            (AR/AME /K/M47-b1-b2).

AME has been a pivotal E&P company in the development of Turkey’s upstream sector for 60 years. Through AME's efforts many underexplored basins in Turkey have been evaluated, yielding a large amount of technical and geophysical information which has subsequently been exploited and, in turn, garnered significant financial and social benefits for Turkey.

Now, AME and UKOG will work together to develop the Resan exploration license, which covers an area of 30,548 hectares, located in Siirt province, which lies to the northwest of AME’s Eruh discovery. UKOG will fund the first well on this license, expected to commence in Q4-2020, as well as a 2D seismic program.

Cem Sayer, AME’s President, commented that he hopes to crown this co-operation with a discovery and referred to the following factors that contributed to UKOG’s decision:

  • AME’s outstanding success story and operational ability in Turkey
  • Turkey having the virtue of being a stable and solid country with accessible untapped potential in the Eastern Mediterranean despite the current regional political climate, comparing favourably to similar projects elsewhere in the world
  • Attractive fiscal terms and the ability to turn investment into cashflow in a relatively short period of time
  • A purchase guarantee for indigenous oil production at world benchmark oil prices
  • The Turkish Government’s positive attitude towards conventional and unconventional oil exploration and production projects at a time when many Western countries are backing away from these types of  investment

 

Aladdin Middle East Ltd. ("AME") is an independent American oil and gas exploration and production company founded in 1961 and focused on the strategic exploration and production of oil and gas assets in Turkey. AME’s corporate head office is in Wichita, Kansas, while the company's operational headquarters is located in Ankara, Turkey. In 2018 AME also established a UK subsidiary in London to raise its international profile.

UKOG is an ambitious oil & gas exploration company, striving to support the drive for increased energy security for the United Kingdom, having a wide range of assets in the south of England. UKOG is listed and trading on London’s Alternative Investment Market (AIM). (website https://www.ukogplc.com/)

 


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AME was the main sponsor of ArpAnatolia Canada Concerts


04/05/2018


Under the auspices of the Turkish Ministry of Culture and Tourism, Aladdin Middle East Ltd. was the main sponsor of ArpAnatolia concert series held between 20-24 April 2018 in Toronto and Vancouver, Canada.

 

ArpAnatolia brings together singers and musicians who delve into the tradition to create a new, contemporary synthesis of Turkish folk music.

https://youtu.be/i8-Vg_7tcdE


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AME received double awards in 2014 from Business Worldwide…..


14/01/2015


Aladdin Middle East (AME) has been named the Oil and Gas Company of the Year in Turkey and Cem Sayer, the President and Chairman of the Board of AME was awarded with the CEO of the year in Turkey for Oil and Gas in Corporate Excellence Awards by the respected business magazine “Business Worldwide” published in London.


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The Corporate Excellence Awards of 2014 were presented to the recipients at the award ceremony held in London. Regarded as one of the prestigious awards of the business world, candidates are chosen from institutions and individuals from all around the world. The winners are selected through a comprehensive annual survey based on the performance and activities of the rising stars of the business world at regional, national and global levels.

 

In the speech he delivered at the award ceremony, Cem Sayer, the President and Chairman of the Board of AME, said that he was very honoured to receive two separate awards and pointed out that the awards reflect AME’s values and the role played since its foundation.

 

Mr. Sayer stressed that he is grateful to everyone who contributed to the preservation of AME’s values and institutionalized standards which were developed in its highly strategic activities. Cem Sayer added that AME’s purpose as Turkey's oldest private oil and gas exploration and production company is to sustain its awarded business culture in line with its objectives.

AME was awarded as Deal of the Year by Acquisiton International in London


23/10/2013


AME partnered with 4D Global Energy Advisors based in Paris and this was awarded as Deal of the Year by Acquisiton International in London.


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Cem Sayer, Chairman of the Board & President of AME presented AME’s 50th Year Plaque to the General Director of Petroleum Affairs, Mr. Selami İncedalcı in Ankara on April 8th 2013 on behalf of the Board of Directors of the company


14/04/2013



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New Board of Directors


26/02/2013



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AME raises US$ 20 Million in New Equity from 4D Global Energy Advisors SAS


22/02/2013


Wichita, Kansas  – 22 February  2013 – Aladdin Middle East Ltd. (“AME”), an independent oil and gas company with primary operations in Turkey, announced today that it has raised US$20 million in new equity from 4D Global Energy Advisors SAS (“4DGEA), a Paris-based private equity investor that specializes in the energy sector.


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The equity financing will enable AME to finance its committed and contingent work programmes and working capital to build on its asset base in the Republic of Turkey.

Cem Sayer, Chairman of the Board and President of AME, commented: “Over the past two years, we have focused on restructuring AME to realize the value in AME’s promising oil and gas assets and to enable us to use that existing asset base to accelerate growth in the company.  In particular, we exited the drilling services sector, enabling us to concentrate solely on E&P projects.  We are extremely pleased to welcome 4DGEA into AME, and we believe their investment will prove to be profitable both for 4DGEA and for our other investors.”

 

Mr. Sayer added, “AME is uniquely positioned as the oldest independent oil and gas company in Turkey, with in-depth knowledge, data and expertise in the region, and will look to continue to develop its core business, participating in several existing Joint Ventures in South East Turkey, exploiting its new oil discoveries, and participating in new projects in Turkey and the surrounding region.  AME, strengthened by 4DGEA, is well positioned to capitalize on both conventional and unconventional oil and gas production opportunities in Turkey, and to benefit from the country’s favorable fiscal terms.  This is indeed a new and exciting chapter in AME’s long history.”

 

Tighe Noonan, the founding partner of 4DGEA, said, “We are extremely pleased at the prospect of working together with Cem and his team both at the Board and Shareholder levels, and of bringing our experience and industry knowledge to the Company as Cem seeks to grow the business. Under his leadership, we are confident that AME will be able to fully deploy its exceptional asset base and to fulfill the aspirations of its visionary Founders. 

Mr. Tighe Noonan and Mr. Emmanuel Bazin, also of 4DGEA, have joined the Board of Directors of AME.Murphy Richards Capital LLP, a London based, FSA regulated corporate finance house introduced 4DGEA and advised AME on the transaction.