Key Highlights
- Dune Oil awarded a 2026 two-dimensional seismic survey contract for its M47 Gabar licence in Türkiye.
- The company budgeted about US$600,000 net for the survey, with US$200,000 advanced.
- Turkish Petroleum reported new nearby oil discoveries and additional drilling plans outside Dune’s licences.
Dune Oil Corp. (CSE: DUNE) (OTCQB: DUNXF) (FSE: Z621) has awarded a contract for a 2026 two-dimensional seismic data acquisition program on its M47 Gabar licence area in Sirnak Province, southeastern Türkiye, moving the work from contractor selection to field execution.
The company said the program is intended to improve definition of fault-controlled structural traps and prospective leads across the M47 licence, and to support its planned 2027 work program and future drilling.
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M47 two-dimensional seismic program scope and timing
Dune’s program is planned to cover about 45 kilometres across six two-dimensional seismic lines over the M47 licence area, which the release describes as the C3 and C4 licences covering about 310 square kilometres. The company said the survey will use nodal recording technology and is designed to fill gaps in existing seismic coverage, particularly in the eastern part of the licence.
Under the acquisition design described in the release, the contractor will handle line survey, shot-hole drilling, explosives management, nodal recording, field quality control and preliminary field processing, with final acquisition parameters to be confirmed following field source tests. Dune said the operator will provide field support, including preparing dozer access roads along the seismic lines and supplying operational fuel during acquisition.
Based on tendered contract terms, Dune estimated the seismic program budget at about US$600,000 net to the company, and said US$200,000 has been advanced to commence the program. Mobilization and field acquisition are planned to start in November 2026, with completion expected in February 2027.
After acquisition, Dune expects processing and interpretation to help identify additional drillable exploration locations in the South Lead area and development locations in the North Lead. The company said it expects to finalize and announce new drilling locations following interpretation, alongside its planned re-entry of the C-2 well and a sidetrack deviated or lateral of the C-1 well.
Nearby third-party activity cited by Dune
Dune also pointed to third-party reports of activity near its M47 block in the Cudi-Gabar region. The company cited a November 9, 2026 announcement by Turkish Petroleum (TPAO) of two new oil discoveries in the Cudi-Gabar region, the Gaziler and Çardakli fields, which TPAO said increased its production fields in the region from eight to ten. Dune said the Gaziler field lies directly north of its M47 block, with the first well about 4 to 5 km from M47.
According to Dune’s release, TPAO reported about 135 million barrels of oil-in-place potential across the area under evaluation and planned to drill 40 new wells in the Gaziler and Çardakli fields. Dune also cited an August 25–28, 2026 report by Turkish energy-industry publication Enerji Günlügü describing 22 individual well locations identified in TPAO’s Mehmet Irfan Güler oil field on exploration licences 1–2 km north of Dune’s licences.
Dune cautioned that it has not independently verified the underlying technical data for the third-party information, that the oil-in-place figure is not a recoverable volume, and that results on other properties are not necessarily indicative of results on M47.
Dune describes itself as a Canadian oil exploration company focused on Türkiye, with an agreement to earn a 29% working interest in the M47 oil exploration block (C3 and C4 licences).
The original press release is available on stockhouse.com
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