Australia: Tap Announces Spud of Hannah-1 Well

Australia Tap Announces Spud of Hannah-1 Well

Tap Oil Limited (“Tap”) provides the following information on the Hannah-1 commitment well, offshore Carnarvon Basin, Western Australia.  The Hannah-1 well is located in permit TP/8, approximately 18km east of Barrow Island. The well will be drilled in water depth of 16m by the jack-up rig Ensco 104.

The well will test a stratigraphic oil play in the lower Cretaceous Barrow Group. The primary target is expected to be intersected at approximately 1,200m. Hannah-1 is expected, on a trouble free basis, to take 10 days to reach a final total depth of 1,368m.

Progress

The Hannah-1 well commenced at 05:30 today AWST, 10 November 2011.

Forward Plan

The Hannah-1 well will be drilled in 311mm (12¼”) hole to 625m where casing will be set before resuming drilling to final total depth.

TP/8 Joint Venture Participants

Apache Northwest Pty Ltd 68.5000%

Kufpec Australia Pty Ltd 19.2771%

Tap (Harriet) Pty Ltd 12.2229%

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Source: Tap Oil , November 10, 2011