Drilling rig on the M47 Block, S.E. Gabar Region, Türkiye
about us

An oil exploration and development company advancing a confirmed light oil discovery

An oil exploration and development company advancing a confirmed light oil discovery

An oil exploration and development company advancing a confirmed light oil discovery

Our story

One block. One objective.

Dune Oil is an investor focused oil exploration and development company, incorporated in Canada with operations in Southeast Türkiye. The company is earning a 29% working interest in the M47 Block in the S.E. Gabar Region of the Zagros Basin, where a light oil discovery was independently evaluated under NI 51-101 and COGEH.

The Gabar region of Southeast Türkiye produced almost no oil until recent discoveries by the national operator, TPAO, opened the fairway. Neighbouring fields went from almost no production to more than 83,000 barrels of oil per day since 2021. Those fields are TPAO’s, not Dune Oil’s.

M47

2015

2015

Company incorporated

450 km²

450 km²

Licence area, M47 Block

Leadership

Operators, engineers and finance, in Canada and Türkiye

Dune Oil brings together oil and gas operators, geoscientists and finance professionals with experience across Türkiye, Canada and international exploration.

Neil Maedel

Director

Neil Maedel

Director

Jordan Coleman

Chief Operating Officer

Jordan Coleman

Chief Operating Officer

Sean Stofer

Chairman of the Board

Sean Stofer

Chairman of the Board

Scott Lower CPA

President & Chief Executive Officer

Scott Lower CPA

President & Chief Executive Officer

Burak Tolga Terzi

Vice President & General Manager, Türkiye

Burak Tolga Terzi

Vice President & General Manager, Türkiye

David Thompson

CFO, Director & Audit Committee Chair

David Thompson

CFO, Director & Audit Committee Chair

Jay Park

Director

Jay Park

Director

ADDRESS (CANADA)

Suite 700 838 West Hastings Street
Vancouver, BC V6C 0A6

Suite 700 838 West Hastings Street
Vancouver, BC V6C 0A6

INVESTOR RELATIONS

Brian Park, VP Finance
info@duneoil.ca

Brian Park, VP Finance
info@duneoil.ca

OPERATIONS (TÜRKIYE)

Oran Mah. Kudus Cad. 1/21 Park Oran Ofis Plaza
No:45, Kat:14, 06450
Cankaya, Ankara, Türkiye

Oran Mah. Kudus Cad. 1/21 Park Oran Ofis Plaza
No:45, Kat:14, 06450
Cankaya, Ankara, Türkiye

ADVISERS

Legal Counsel, Burstall LLP
Auditors, MNP Canada
Transfer Agent, Odyssey Trust

Legal Counsel, Burstall LLP
Auditors, MNP Canada
Transfer Agent, Odyssey Trust

Our history

From exploration licence
to confirmed discovery

The moments that brought Dune Oil to the M47 Block.

01

C-1 well drilled

2025

The first well on the M47 Block, C-1, was drilled on the northern lead, close to the block line and on trend with a discovery made immediately to the east.

The well encountered light oil in the same carbonate reservoirs that produce from the fields surrounding the block.

01

C-1 well drilled

2025

The first well on the M47 Block, C-1, was drilled on the northern lead, close to the block line and on trend with a discovery made immediately to the east.

The well encountered light oil in the same carbonate reservoirs that produce from the fields surrounding the block.

02

Light oil discovery announced

Apr 2026

The company announced a light oil discovery on the M47 Block. The oil is 32.4 degree API light conventional crude.

Neighbouring TPAO fields went from almost no production to more than 83,000 barrels of oil per day since 2021.

02

Light oil discovery announced

Apr 2026

The company announced a light oil discovery on the M47 Block. The oil is 32.4 degree API light conventional crude.

Neighbouring TPAO fields went from almost no production to more than 83,000 barrels of oil per day since 2021.

03

Independent resource evaluation

Apr 2026

Chapman Hydrogen and Petroleum Engineering Ltd., an independent qualified reserves evaluator, completed a resource evaluation of the M47 discovery prepared under NI 51-101 and COGEH, effective December 31, 2025.

The evaluation and its full resource disclosure are set out in the Company’s news release of April 16, 2026 and on the M47 briefing page.

03

Independent resource evaluation

Apr 2026

Chapman Hydrogen and Petroleum Engineering Ltd., an independent qualified reserves evaluator, completed a resource evaluation of the M47 discovery prepared under NI 51-101 and COGEH, effective December 31, 2025.

The evaluation and its full resource disclosure are set out in the Company’s news release of April 16, 2026 and on the M47 briefing page.

04

Earn-in payment advanced

Jun 2026

The company advanced an additional earn-in payment on the M47 Block and set out the plan for the next phase of work.

The earn-in is staged against a defined work programme rather than paid up front.

04

Earn-in payment advanced

Jun 2026

The company advanced an additional earn-in payment on the M47 Block and set out the plan for the next phase of work.

The earn-in is staged against a defined work programme rather than paid up front.

05

Field scouting and geophysical programme

Jun 2026

Field scouting and a geophysical programme began across the block, defining drilling locations on the mid and south leads.

Seismic coverage on those leads was thinner than on the north, where C-1 was drilled.

05

Field scouting and geophysical programme

Jun 2026

Field scouting and a geophysical programme began across the block, defining drilling locations on the mid and south leads.

Seismic coverage on those leads was thinner than on the north, where C-1 was drilled.

06

Seismic programme tendered

Jul 2026

The company tendered the M47 seismic programme and amended the farm-in agreement to gain additional flexibility on the work commitment.

Seismic acquisition defines the mid lead ahead of the next wells.

06

Seismic programme tendered

Jul 2026

The company tendered the M47 seismic programme and amended the farm-in agreement to gain additional flexibility on the work commitment.

Seismic acquisition defines the mid lead ahead of the next wells.