Apache Makes Another String of Pearls Discovery

The Harriet Joint Venture has added another discovery to its String of Pearls. The North Pedirka-1 well located in TL/6 south of Varanus Island has been drilled to a total depth of 2,927 meters measured depth. The top of the Flag reservoir was intersected at 2,856.4 meters measured depth (1,743.2 meters sub sea). The well has successfully encountered a 7.4 meter gross (6 meter net) hydrocarbon column. Current operations comprise acquiring reservoir pressures and fluid samples to confirm the nature of the hydrocarbons discovered.

The North Pedirka-1 well is being batch drilled together with the Hoover-2 development well. On completion of wireline operations the Ensco-56 rig will continue drilling the development appraisal well Hoover-2. If it is confirmed that the hydrocarbons discovered at North Pedirka-1 are oil then it is planned to tie it in for immediate production via the existing Victoria Platform.

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