14 API oil in Cretaceous age Mardin Group carbonate was discovered by Altınakar-1 in 2011, and 473 bbl oil was produced. Altınakar-1 was then deepened to Bedinan sandstone reservoir (B4) in 2012 and 41 API oil was discovered. Altınakar field is on the same trend with the other major Bedinan oil fields to the East, i.e., Kılavuztepe, Arpatepe, Çalıktepe fields.

In 2020, three exploration wells drilled to the B4 sandstones (Sand-1 and Sand-2); Altınakar-2 (TD: 2,291m), Altınakar-3 (TD: 2,312m), and Altınakar-4 (TD: 2,297m). Sand-2 was completed in Altınakar-2 and Altınakar-3 wells and put both on production with 600 bopd initial rates in natural flow. In Altınakar-4, Sand-2 was wet and therefore Sand-1 was completed and put on production with 10 bopd initial rate. As of end-2022, the oil production from these three wells were 235 bopd.

Altınakar-5 well (2022) was drilled to Bedinan sandstones as a step-out well 2 km to the East of Altınakar-2. It reached a TD of 2,302m without any significant oil shows. The well was temporally abandoned due to technical reasons. AME with its JV partner is planning to site-track the well to a Westerly located new fault closure.

In 2022, 114 km new 2D seismic data was acquired to improve structural interpretation of the basement faults within the lease area. Several new prospective areas and leads have been identified in separate basement fault blocks. The JV partners are planning to drill at least one new exploration well to test the oil accumulation in the Bedinan sandstones in a separate fault block.

Başaklı-1 (2014) is located 7 km to the North of Altınakar field. It targeted Mardin Group carbonates as a primary reservoir. After discovering 21 API oil in Mardin and producing 39,000 bbl cumulative oil until 2019, the well was deepened to Bedinan sandstones without any significant oil shows.

Dadaş “hot shales” is the main source rock of the Paleozoic petroleum system. The Altınakar-Başaklı lease is favorably situated within the “sweet-spot” of the oil-prone Dadaş resource play area, and this should be considered as an important upside for planning future exploration activities.