Tap Oil Spuds Boojum-1 Exploration Well

Tap Oil reports that the Boojum-1 exploration well was spudded on December 16, 2004 by the Ensco 56. The well is located in TP-18, 16 kilometers northwest of Airlie Island offshore Australia.

So far, the Boojum-1 well has drilled to a depth of 80 meters measured depth and will continue to drill to a total depth of 2,650 meters measure depth.

The Boojum-1 well is targeting an interpreted fault block structure comprised of Lower Barrow sandstones. The recoverable oil potential in the Boojum Prospect is calculated around 11 million barrels.

The well is expected to take 12 days to reach the planned total depth.

TP-18 Joint Venture Participants are Tap Oil as operator with 50% and Strike Oil with the remaining 50%.