INCREMENTAL PETROLEUM LIMITED

INCREMENTAL PETROLEUM LIMITED

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Company Overview
Incremental Petroleum Limited is an Australian company that operates the Selmo Oilfield in Turkey and explores for oil and gas in Turkey and internationally. The company was incorporated in 2005 and is publicly traded on the Australian Stock Exchange under the trading symbol IPM. It is headquartered in Perth, Australia, and has another office in Istanbul and Ankara, Turkey.
The company was founded by a highly experienced team of oil industry professionals, including geologists, engineers and financiers. Its principal objective is to acquire low risk, ageing, producing oilfields and apply technical expertise to increase production and recoveries. The main focus of the company is on the enhancement of the Selmo Oilfield, which is located in southeastern Turkey, in the north of the prolific Zagros fold belt. Selmo is the second largest oilfield in Turkey by cumulative production. It produces from Cretaceous aged carbonate rocks. The oilfield has 47 producing wells with oil flows of between 19 and 174 barrels per day. It comprises two main productive reservoirs, the topmost Middle Sinan Dolomite (MSD) with an average thickness of 90 feet and the 325 feet thick Lower Sinan Dolomite (LSD) at the base. The oil produced in Selmo is sold at the field gate and sent by pipeline direct to a refinery 40 kilometer away.
Business Summary
The principal activity of the company is the operation of the Selmo Oilfield in Turkey and exploration for oil and gas in Turkey and internationally.
Description and history
Incremental Petroleum (INCREMENTAL) was founded by a highly experienced team of oil industry professionals, including geologists, engineers, and financiers. Incremental’s goal is to build a significant oil production business for the benefit of the shareholders.

INCREMENTAL’s brief is to target bypassed production from ageing and declining oilfields worldwide. Regardless of field size, production eventually declines below a level of significance to the original operator. Once this production level has been reached, time and investment expenditure usually diminish, further exacerbating field decline. Such fields invariably hold untapped reserves, and can still be operated profitably by smaller value focussed companies such as INCREMENTAL.

The principal activity of the company is the operation of the Selmo Oilfield in Turkey and exploration for oil and gas in Turkey and internationally.

The Company has been listed on the Australian Stock Exchange since 20 October 2005. The company was incorporated on August 10, 2005.

On 26 March 2009, the Company was delisted from ASX following compulsory acquisition by Transatlantic Australia Pty Ltd under its takeover offer.

Founded by a highly experienced team of oil industry professionals, including geologists, engineers and financiers

Business Line
Operates the Selmo Oilfield in Turkey and explores for oil and gas in Turkey and internationally
Subsidiary
DMLP GP
Advisor
DELOITTE TOUCHE TOHMATSU
IPO date
10/20/2005
US SIC Code
1311
Company Address
Mezzanine Level
20, Howard Street
City province or state postal code
6000, PERTH, WA
Phone: +61 894818696
Fax: +61 894812394
Country address: AUSTRALIA
Website url: www.incrementalpetroleum.com