Valeura Energy and Transatlantic Petroleum to form a joint venture.

Valeura Energy, an upstream oil & gas company and Transatlantic Petroleum, an international energy company, agreed to form a joint venture. “Despite our strategic pivot toward the Asia-Pacific region, we have maintained our conviction that the deep gas play we discovered in northwest Türkiye offers significant potential to add value to the Company. Our drilling programme from 2017 to 2019 demonstrated that there are multiple Tcf of gas in place across Valeura’s lands in a deep tight gas play. We drilled three wells into this play and tested 12 separate zones – every one of which flowed gas. It is my hope that with a reinvigorated push to test the play, we will see this evolve into a commercial success, especially when coupled with the higher European gas prices that exist today." Dr. Sean Guest, Valeura Energy President and CEO.