Harriet JV Strikes Oil with Remus-1 Well

Tap Oil reports that the Remus-1 well located in the Harriet Joint Venture Permit, TL/6, has reached the planned total depth of 2,823 meters. A thin sand reservoir containing oil was encountered at the top of the Double Island sandstone interval. No oil water contact was intersected with oil lying directly on a base seal.

The Remus-1 exploration well is a deviated well, designed to test a four-way dip closed mound within the Double Island sandstone on trend with the previously drilled Romulus-1 exploration well approximately 1 kms to the north. Although the oil filled sandstone reservoir intersected in Remus-1 is thin, a similar thin oil filled sandstone reservoir was also intersected in Romulus-1 which Tap interprets is on the same stratigraphic trend and could be connected.

It is now planned to complete Remus-1 for immediate oil production through the South Plato production platform. This is a good example of the ability to quickly commercialize small oil pools in the vicinity of the String of Pearls production facilities.

TL/6 Joint Venture participants are Apache as operator with 68.5%; Kufpec with 19.2771% and Tap Oil with 12.2229%.

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