Harriet JV Pleased with Bambra-2 Results

The Bambra East Gas Field has now been appraised by two deviated wells; Bambra East-1 and Bambra East-2. The Bambra East drilling campaign commenced on December 20, 2006.

The Bambra East-2 has drilled to a total depth of approximately 2,500 meters measured depth and is being plugged back and abandoned as planned. Bambra East-2 intersected the Top Flag approximately 9 meters high to prognosis. The well encountered an excellent quality reservoir section with a hydrocarbon/water contact consistent with the original Bambra-1 discovery well and recent Bambra East-1 appraisal well. The Bambra East Gas Field is located in Production License TL/1 offshore Australia.

Bambra East-2 is another very successful result for the Bambra East appraisal project. The reservoir information from this well and the recent successful Bambra East-1 appraisal well will be integrated into the gas field evaluation to better determine the gas volumes and optimal development. Tap is confident the better than prognosed appraisal results from the Bambra East 1 and 2 wells will lead to an increase in the gas volumes of the Bambra East Gas Field.

Harriet Joint Venture participants are Apache Northwest Pty as operator with 68.5%; Tap (Harriet) Pty ltd with 12.2229% and Kufpec Australia Pty Ltd with19.2771%.

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