Thrace Basin Natural Gas Corporation (TBNG), a subsidiary of Valeura Energy Inc., spudded the Karaevli 6 appraisal well in Block F19-D3-1, Thrace Basin, in the third quarter of 2017 as part of its 2017 drilling programme. The well was plugged and abandoned following unsuccessful testing after reaching a TD of 1,261 m. TBNG completed the Karaevli 1 new field wildcat as a gas producer in January 2008. The most recent well drilled at the field was the Karaevli 5 appraisal well which was completed as a gas producer in the Osmancik Sandstone Formation in April 2010 after reaching a TD of 1,313 m. The field had produced greater than 500 MMcf of gas by the end of 2014. On 24 February 2017, Valeura announced that it had completed the acquisition of TBNG from TransAtlantic Worldwide Ltd for USD 20.9 million (which includes USD 3.1 million held in escrow pending a final reconciliation). Through its subsidiaries, Valeura now owns 81.5% of the shallow rights on the TBNG JV lands. TBNG is partnered in the well by Pinnacle Turkey Inc 18.5% and another Valeura subsidiary - Corporate Resources BV 40%. Â 
Turkey (Thrace B.) Karaevli 6 op. by VALEURA (41.5%, VALEURA 40.0%, PINNACLE T 18.5%) in F19-D3-1 block