Austral-Pacific Spuds Supplejack-1 Exploration Well

The Supplejack-1 well located in PEP 38741 in the onshore Taranaki Basin has been spud. The well will evaluate two levels of potential reservoir within an intra-Urenui Formation channel sand and deeper Moki Sandstone. The well is expected to take 16 days to reach the programmed total depth of 2,575 meters measured depth.

Tap's next well in the onshore Taranaki program is the Tap operated Takahe-1 which is planned for early August followed by Richmond-1 which will complete the current onshore Taranaki program for 2005.

PEP 38741 Joint Venture participants are Austra-Pacific as operator with 30%; Tap Oil with 50% and Tag Oil with 20%.