Dune Oil targets sustained production at Türkiye's M47 block with C$8.3m fundraise

Dune Oil Corp (CSE:DUNE, OTCQB:DUNXF, FRA:Z620) CEO Scott Lower spoke with Proactive's Stephen Gunnion about the company's proposed C$8.3 million financing and plans to advance its M47 oil block in Türkiye towards sustained production.
The funding will support the re-entry of the C-2 discovery well, a sidetrack of C-1 and around 40 kilometres of seismic surveying. Lower said the first well re-entry is targeted for late December, with the seismic programme potentially starting shortly. Further well operations are expected in the first half of next year.
The seismic work will also help assess a potential exploration well on the southern part of the block, where Dune hopes to make a second discovery.
Lower highlighted a third-party reserve report indicating an 80% chance of commerciality. He said establishing sustained production from the existing discoveries will be crucial to converting contingent resources into proven reserves and demonstrating M47's commercial potential.
The interview also covered the key catalysts over the next six to eight months, including well results, reserve conversion and further exploration.
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