Marley-1 Exploration Well on Hold

The Marley-1 exploration well, located in permit TL/5 in the Barrow sub-basin approximately 3.5 kilometers west-southwest of the existing Campbell Platform, has been drilled to 3,115 meters measured depth. On January 5th, drilling ceased due to issues related to well control and gas influx. The rig was secured for the onset of Cyclone Clare with all crew evacuated from the rig on January 9th. The rig crew is expected to return to the rig by tomorrow. Following re-manning of the rig, the well will be re-entered to assess the condition of the well bore for continued operations.

While the immediate plans for the well will be assessed when crews return to the rig, it is expected the Harriet Joint Venture will vote to suspend the well to allow development of a detailed forward plan and acquisition of required drilling equipment to resolve the drilling problems encountered, and to complete the drilling of the Marley well later this year.

TL/5 Joint Venture participants are Apache Northwest Pty Ltd with 68.5%; Tap (Harriet) Pty Ltd with 12.2229% and Kufpec Australia Pty Ltd with19.2771%.

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