Harriet JV Provides Progress Report on Current Exploration Wells

Lansdowne-1 Exploration Well
The Lansdowne-1 exploration well was spudded earlier this month and is currently drilling ahead. The well is expected to reach a total depth of 3,815 meters measured depth.

Lansdowne-1 is located in TL/6 and is being drilled from a surface location approximately 5 kilometers south of the Agincourt Platform. The bottom hole objective location lies approximately 2.8 kilometers north east of the surface location.

The Lansdowne-1 exploration well is a deviated well, designed to establish if hydrocarbons are present within structural closure of the Double Island and Flag reservoirs. The well is expected to take 3-4 days to reach total depth and is the first well to be drilled with the Ensco-67 after a major re-fit in Singapore. If successful, a development well will subsequently be drilled from the existing Harriet Joint Venture South Plato Platform for immediate production.

Artreus-1 - Exploration Well
Artreus-1 earlier this month and is currently at 3,200 meters with a projected total depth of 4,092 meters measured depth. The well is located in TL/6 and is being drilled from the existing Harriet Joint Venture Agincourt Platform. The bottom hole objective location lies approximately 2.8 kilometers southeast of the surface location.

Artreus-1 is a deviated well to test for hydrocarbons in a structural closure of the Flag Sandstone reservoir. As with Lansdowne-1, success in this well would result in almost immediate incremental production.

Bambra-7H - Development Well
Bambra-7H is a deviated well currently at 1,700 meters with a projected total depth of 6,675 meters measured depth. The well is located in TL/1 and is being drilled from the existing Harriet Joint Venture Harriet Bravo Platform. The bottom hole objective location lies approximately 4.9 kilometers northwest of the surface location.

The Bambra-7H development well is designed as a long-reach, dual lateral horizontal oil producer to develop the oil and gas reserves in the Bambra Field, discovered by Bambra-2 in 1983. First production is expected by late October 2005. TL/1 & TL/6 Joint Venture Participants are Apache Northwest as operator with 68.5%; Tap Oil with 12.2229% and Kufpec Australia with 19.2771%.

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