Harriet JV Spuds Gobi-1 Exploration Well

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Tap Oil Limited reports that operations at the Gobi-1 exploration well commenced. The well is located in Production License TL/1 and is being drilled from the Gibson/South Plato Platform. Gobi-1 will be drilled as a deviated well to a target depth of approximately 3500 meters measured depth, approximately 2.5 kilometers southeast of the production platform.

The Gobi-1 well is designed to test a four-way dip closed drape structure within the Flag Sandstone to the east of the Gibson/South Plato fields. In the success case the Gobi-1 exploration well will be completed and brought on production very quickly, as it is being drilled from an existing production platform.

The well is expected to take approximately 12 days to reach the proposed total depth.

Harriet Joint Venture participants are Apache Northwest Pty Ltd as operator with 68.5%; Tap Oil (Harriet) Pty Ltd with 12.2229% and Kufpec Australia Pty Ltd with 19.2771%.

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