Dempsey Minerals Limited is an Australian based mineral and oil exploration company established to generate shareholder wealth by identifying, acquiring and/or developing mineral projects that possess the potential for exploration success. The minerals portfolio includes the Greenbushes South project and The Socrates project in Western Australia. In September 2015, the Company entered into an Option to purchase 100% of the issued capital of Petroz Limited. Petroz is an unlisted public Australian oil company, which has secured a 75% interest in a proven, newly awarded, onshore oil licence located in Western Turkey.
The Petroz Turkish oil assets comprise a recently awarded oil exploration licence called the Alasehir project. The project hosts previously discovered oil in the Alasehir and Sarikiz oil fields but are yet to be developed. The Sarakiz-2 well production test flowed, proved 1,000 bbls over 7 days but was abandoned due to poor management. Substantial un-explored acreage also remains in the project.