Western Canadian Coal Corp, which owns a 45% interest in Xtract Energy Plc, is pleased to announce an update on Xtract’s oil and gas interests in Turkey.

Xtract has a 34% interest in Turkish joint venture Extrem Energy A.S. Extrem has now completed analysis on oil production test data from Sarikiz-2, together with other well, seismic and geochemical data to arrive at estimated recoverable oil from the field of 74 million barrels. As part of the field development plan, a three well production drilling program is due to commence in September and extend through to the end of December.

Furthermore, geochemical surveys over Extrem’s Siraseki licence, located near the Syrian border, indicate the existence of a structure with the potential to recover 94 billion cubic feet of natural gas. Drilling in this licence area is expected to commence in early 2010.

The information disclosed by Extrem in relation to resource estimates has been provided using SPE standards and reviewed and approved by Ongun Yoldemir, Managing Director of Extrem Energy, who has a masters degree in geological engineering and over 28 years experience in the resource and energy sector.

Find More Other News : Coal, Mineral Exploration, mining companies