Tap Oil to Spud Amulet-1 Exploration Well

Tap Oil expects to spud the Amulet-1 exploration well, located in Production License WA-8-L, in the Dampier Sub-basin, early next week using the Ensco 106 jackup.

The Amulet-1 well is located approximately 35 km NE of the Ocean Legend (Legendre Oil Field) Production Platform and 133km NNE of Dampier. The Amulet-1 location is in approximately 85 meters of water designed to test a four-way dip closed structure along the north-eastern margin of Dampier Sub-basin. The well is expected to take approximately 11 days to reach target depth. The reservoir is interpreted to be Lower Cretaceous sandstones at a depth of 1,930 meters subsea.

Further, the Amulet-1 well is located approximately 4 kilometers east of the Talisman Oil Field that produced 7.7 million barrels of high quality oil between 1989 and 1992. Mean potential recoverable oil resource estimates at the Amulet Prospect range from 30 to 40 million barrels.

Amulet-1 participantsare Tap (Shelfal) Pty Ltd with 50% and Kufpec Australia Pty Ltd with the remaining 50%.

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