Tap Oil Limited will plug and abandon the Craigow-1 exploration well after failing to hit pay. The well reached a total depth of 5,906 feet (1,800 meters), and even though several high-quality sands were intersected in the main Top Aroo Formation objective as prognosed, gathered data has indicated that the sands are not hydrocarbon-bearing.
Plugging and abandonment operations will commence on Craigow-1 and then the rig released. The well is located in the T/47P permit area in the offshore Bass Basin between Victoria and Tasmania. The permit spans 713,146 acres (2,886 square kilometers) and is operated by Tap Oil, holding a 75% interest. The other partner in the permit is Jubilant Energy, holding the remaining interest.
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