Harriet JV Starts 2005 Drilling Program with Albert-1 Well

Tap Oil reports that the Albert-1 exploration well commenced drilling on March 6, 2005. The well is located in TL/6, and is being drilled as a deviated well from the existing Victoria production platform. The bottom hole location approximately 1.3 kilometers north-northwest of the Victoria Platform. The well will be drilled to a total depth of 2,795 meters measured depth.

The Albert-1 exploration well is designed to investigate a Flag sandstone closure on the same trend as the existing South Plato and Victoria Oil Fields. The exploration well is expected to take 5 days to reach total depth. If successful, a horizontal development well will be completed in the reservoir such that it can be brought into production immediately.

The Albert-1 well is the first well to be drilled in an intensive drilling campaign of some 20 exploration, appraisal and development wells in the Harriet Joint Venture during 2005.

TL/6 Joint Venture Participants are Apache as operator with 68.5%; Tap Oil with 12.22% and Kufpec Australia with 19.28%.

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