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Ibug
Nothing misleading at all.
Just highlighting AME's ability as an operator, and there were other discoveries they made earlier than that which I didn't refer to, such as:
1991 – AME discovers Nemrut oil field in Adiyaman region, SE Turkey;
1993 – AME discovers Hasancik oil fields in Adiyaman region;
2008 – AME discovers Arpatepe oil field in SE Turkey, the first oil field producing from Paleozoic reservoir in foreland basin of SE Turkey;
Etc
Also, other factors, also not referred to, was their appointment by Shell to replace a less able operator, again highlighting their ability and track record.
If you compare that to the operating progress so far in the Uk, it's a positive change, in my opinion.
RollingInIt
"AME made three new oil field discoveries in SE Turkey in 2014."
The problem is posting from an article in 2014 and then not telling other PI's what happened to the three new oil fields could be construed as misleading. Perhaps you could tell us what the 3 oilfields were. I'm sure one of them is not producing oil if it is one of the ones I am thinking of. Could it be Oymantepe and Petek as well.
Skwizz
Well, if stating that:
'There will always be posters with differing agendas. The price of the stock will do the all the policing.'
.... is categorised as a 'ramp' for you, knock yourself out with it, bless.
It won't alter the positive changes here.
Swizzy Abbott, i don't think " well balanced " applies to you......get well soon.....all the very best
Rollinginit, an excellent, well balanced post...thanks for that......where's the hype?
There are two hugely significant positive changes.
Firstly, the country where the new asset is based, without local objectors amd protesters and without local councils inflicting indecision, inconsitency of decision making and bureaucratic red tape, causing delays.
This, in terms of drilling literally next door to an existing discovery and achieving commercial oil in a timely manner, if successful, should not be underestimated.
'Basur-3, the first modern appraisal well designed to confirm the extent and commerciality of the discovered Basur-Resan Mardin oil pool.'
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In addition to this untapped potential, Turkey’s competitive royalty rate of 12.5% and corporate tax rate of 20% result in relatively high profitability in a global context and make Turkey a very lucrative target for investment. Given strong reference prices, and a Government take that is amongst the lowest in the world, companies operating in Turkey should be capable of reaping very robust returns.
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Secondly, their partner, AME.
Over fifty years of successfully operating in Turkey including on behalf of the oil majors, the most experienced in the sector, second only to TPAO, the Turkish national company.
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We have always pioneered oil exploration in Turkey and have proved that higher quality light oil bearing reservoirs are present in SE Turkey which no one else would believe previously.
AME made three new oil field discoveries in SE Turkey in 2014.
We believe we are sitting on an Iraqi size and quality oil field in Turkey and that, in itself, speaks volumes for the value this will add to our company going forward.
AME has been crucial in the development of Turkey’s upstream sector. Through AME’s efforts many underexplored basins in Turkey have been evaluated, yielding a vast amount of technical, geological and geophysical information bringing not insignificant financial and social benefits for Turkey. With its rich data-base and library of information, AME has helped to attract a large number of American and European energy companies to Turkey as first time investors in the oil and gas sector.
We are an industry leader in the Turkish upstream and the most senior private player in the country second only to TPAO, the national oil company.
At AME, we strive each day to live up to the legacy of excellence associated with our company name, and I know that we will continue to grow value for our shareholders with our promising oil and gas exploration and development projects.
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By partnering with an effective operator with a proven successful track record, even if it's just a case of being dragged along by AME to succeed, this forces through yet another positive change.