The Kirmizihoyuk-1 well is located four kilometers NNW of the Bati-Umur 1 discovery drilled in 2008. The planned total depth of the well is 450 meters and is expected to take around 12 days to drill. Kirmizihoyuk-1 targets P50 prospective gas resources of around 0.75 billion cubic feet within the Osmancik formation.
Otto Energy holds a 35% interest in the Edirne license. The Edirne license is operated by joint venture partners PEMI (55%) and Petraco (10%).
