US Company to Search for Oil in Turkey

An Oil and gas company, Dallas-based Toreador, plans to finish drilling and test-processing in the oil well named Calgan-1 within a month.

If the first oil well is successful, a second well will be drilled as well. The first phase of the project is estimated to cost $900,000.

The company previously discovered new natural gas by drilling another oil well, Ayazli-1, in the southern part of Akcakoca in Turkey in September and is in preparation for production of natural gas in 2006.