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APL Energy acquires 6 geothermal assets in Turkey

Location of geothermal assets by APL Energy in Turkey (source: APL Energy)
Alexander Richter 19 May 2011

Oil exploration company and upstream oil and gas consultancy, APL Petroleum formed APL Energy and moved into geothermal exploration, starting with the acquisition of 6 joint geothermal assets in Turkey's regions of Canakkale, Izmir and Manisa.

After years as an oil exploration company and upstream oil and gas consultancy, APL Petroleum has formed APL Energy and moved into geothermal exploration along with its partner HHM Energy.

Through this endeavor APL Energy has acquired 6 joint geothermal assets in Turkey’s regions of Canakkale, Izmir and Manisa.

One particular license out of the Manisa region (at GedizGraben) in Alahidir is one of APL Energy’s most ambitious projects. Early test indications on Alahidir reveal good potential for electricity production as well as possibilities for district and greenhouse heating.

Taking advantage of Turkey’s tremendous geothermal potential for APL Energy was the right thing to do. APL Energy is prudent in the assets it chooses as well. During 2011 alone, APL Energy has evaluated over 25 different geothermal exploration fields and has opted for the 6 licenses as the most suitable candidates.

APL Energy is a private geothermal exploration company which also provides engineering services and asset acquisition assistance to companies seeking a geothermal presence in Turkey where it has a highly experienced first class management team.

Contacts at the company for media and investor relations, RF@APL-Energy.com, for technical and engineering FY@APL-Energy.com

Source: Company release by e-mail