[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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[TRCAS]
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As previously announced in our Company's Public Disclosure dated 29 March 2017, with an aim to expand our expertise in geothermal drillings for exploration and generation to oil exploration operations in territories, Turcas Petrol A.Ş. had submitted an oil exploration license application for M-22A plot, which is located in Denizli,  to Turkey's Ministry of Energy and Natural Resources Petroleum Directorate.

According to the invitation from Turkey's Ministry of Energy and Natural Resources Petroleum Directorate, "Investment Program" was presented by Turcas Petrol A.Ş. on 4 July 2017 for the inspection of Petroleum Directorate, in line with the legislation. According to "Investment Program" presented by Turcas Petrol A.Ş. to Petroleum Directorate, primary investment amount, which is to be utilized in drilling studies during the first 5 year period, is expected to be USD 2,682,850 at minimum.

Further developments will be shared with the public.