Monet-2 Begins Production

Tap Oil reports that the Monet-2 development well located in TL/1 offshore Australia has commenced production located at a gross rate of 11,000 bopd (1,345 bopd net to Tap).

The Monet-2 well is a horizontal production well in the Flag Sandstone of the Monet Field which is approximately 3.5 kilometers northeast of the Simpson Bravo Platform. The Monet Oil Field is relatively small however the rapid cycle time from discovery to first oil production using existing infrastructure makes economics robust.

The Monet Oil Field was discovered less than three months ago and typical of these types of Flag sandstone fields, production rates will decline from present levels within a few months with the field expected to have a life of around two years. Harriet Joint Venture participants are Apache as operator with 68.5%; Kufpec Australia with 19.2771% and Tap Oil with 12.2229%.