Jacala-1 Exploration Well Halted Again Due to Weather

Location of WA-351-P
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Tap Oil reports that operations at the Jacala-1 well, located in the center of permit WA-351-P in the deepwater Carnarvon Basin have been halted again.

Jacala-1A well was spudded on April 4, 2006 following the re-manning of the rig from the recent cyclones Floyd and Glenda. At present the well has been drilled and cased to a depth of 1140 m in a water depth of 1060 m. The well is approximately 10 days behind schedule primarily due to the cyclonic activity being experienced in the North West.

Another developing cyclone is strengthening to the north of the well which has necessitated that the well be secured with down manning from the rig commencing today.

The Jacala-1 well is located on the Exmouth Sub-basin approximately 200 km west of Barrow Island and 100km NW of the Laverda, Vincent and Enfield field complex. Jacala-1 is located in approximately 1060 meters of water and is targeting a large 4-way dip structure and is expected to take approximately 18 days to drill and log. The reservoir is interpreted to be in Barrow Sandstones at a depth of 2,106 meters. WA-351-P Joint Venture participants are BHP as operator with 55%; Tap with 25% and Roc Oil with the remaining 20%.

Operations at the Zephyrus-1 which is located approximately 2.5km south east of the Agincourt platform have also been halted due to the approach of another cyclone.

The Zephyrus-1 well spudded on March 21, 2006 and following the re-manning of the rig due to tropical cyclones Floyd and Glenda has drilled and cased the well to a depth of 1318m.

The Zephyrus-1 exploration well is being drilled from the existing Agincourt Platform as a deviated well. It is designed to test a four-way dip closed depositional mound. The well is expected to take approximately 15 days to reach total depth. Should it be successful it will be brought onto production immediately via the existing platform into the Varanus Island Production hub.

TL 1,5,6,8,9 Joint Venture participants are Apache as operator with 68.5%; Tap with 12.2229% and Kufpec with 19.2771%.

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