Hayden Embarks Role as CEO, Managing Director

Mr. Troy Hayden commences today as Tap Oil's Chief Executive Officer and Managing Director. Mr. Hayden's appointment was previously announced on October7.

Mr. Hayden succeeds Mr. Peter Stickland, who has resigned as a Director and will remain as an adviser to the Company for an interim transition period until March 18, 2011.

Tap's Chairman, Dr Neale Taylor commented, "Troy is taking over just as Tap enters an exciting phase of drilling and development activities, including those related to the recently acquired assets in the Gulf of Thailand. 2011 will be a busy year and will present an opportunity for Troy to lead Tap into a new phase of growth in the Company's value."