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Cub Energy Inc.(TSX-V: KUB) announced that the Yolduzu-1 ("Y-1") exploration well, in which Cub has the right to earn a 50% working interest, has commenced drilling on the Besni Licence in Southeast Turkey.
The Y-1 well is the first well for Cub to drill with its joint-venture partner in Turkey, Calik Petrol. With a planned total depth ("TD") of 1,325 metres, the Company expects the well to take approximately 25-days to reach TD. Identified by seismic data acquired in 2011, the primary objective of the Y-1 well is to test the Cretaceous Mardin group in the Anatolian
Basin of southeast Turkey.
The Y-1 well is located 20 kilometres to the southwest of the Sambayat Oilfield ("Sambayat"), which was discovered by Turkish Petroleum in 2008. The Sambayat produces from the Cretaceous Mardin Group with some of the wells being reported to have had initial production rates in excess of 500 barrels of oil per day. Cub Energy
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