Australia: Tap Oil Provides Hannah-1 Drilling Update

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

As at 6am AWST today, the Hannah-1 well was at a depth of 918m. A 7” liner has been set to 948m.

Forward Plan

Drill out cement plug and drill ahead to primary target at approximately 1,200m

Ensco 104, a self elevating mobile offshore drilling unit (KFELS MOD V B Class) was built in 2002 by Keppel FELS, Singapore.

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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Offshore Energy Today Staff , November 16, 2011: