Harriet JV Updates Drilling Program

The North Pedirka-1 and Hoover-2 wells are being batch drilled out of the same surface location as deviated wells from the Victoria Platform by the ENSCO 56 drilling rig. The Hoover-2 well is located in TL/6, 8 kilometers south of Varanus Island.

The Hoover-2 well has drilled to a depth of 625 meters measured depth and will continue to drill ahead to the planned total depth of 3,850 meters measured depth (1,802 meters true vertical depth subsea).

The Hoover Field was discovered in April 2002 and is located in TL/1, approximately 2.7 kilometers east of the Victoria Complex. The Hoover-2 well is being drilled as a production well into the Top Flag Sandstone of the Hoover Field. The Hoover-2 well is expected to take 6 days to reach the proposed total depth of 3,850 meters measured depth.

The North Pedirka-1 well is located in TL/6, 8 kilometers south of Varanus Island. The North Pedirka-1 well will be spudded after the top hole is drilled for Hoover 2 as per the batch drilling operations and will drill ahead to the planned total depth of 2,927 meters measured depth (1,809 meters true vertical depth subsea).

The North Pedirka prospect is approximately 2.1 kilometers north of the Victoria Complex and is mapped as a low relief four way dip closed anticline at the top Flag Sandstone level. The North Pedirka-1 well is expected to take 6 days to reach the proposed total depth of 2,927 meters measured depth.

Harriet Joint Venture Participants are: Apache as operator with 68.5%; Kufpec Australia with 19.2771% and Tap Oil with the remaining 12.2229%.
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