Tap Oil Logs Gas Pay at Supplejack South-1A

The Supplejack South-1A exploration target, located in PEP 38765 in the Onshore Taranaki Basin, reached its total depth of 2,084 meters. Well log measurements indicate that the primary objective sand interval was intersected 18 meters up dip from the Supplejack South-1 intersection. The well is a sidetrack well from the recently drilled Supplejack South-1 well which discovered a thin oil column.

Two thin gas bearing sands with potentially 4.5 meters of net gas sands are interpreted from well logs. The Joint Venture has agreed to run production casing in Supplejack South-1A in preparation for production testing operations.

The Supplejack South-1A well was drilled to investigate the up-dip extension of the Supplejack South-1 oil discovery.

The Supplejack South-1A well encountered thin gas sands up-dip from the discovery well. Since the oil bearing sand interval in the sidetrack well was intersected shallower than prognosed, the thickness of the oil column cannot be determined from well logs.

Production testing of this well, along with further testing of the original Supplejack-1 discovery well, is being planned by the Joint Venture participants. Production operations from both wells would be simplified because both were drilled from adjacent surface locations.

PEP 38765 Joint Venture participants are Tap (New Zealand) Pty Ltd as Permit Operator with 50.00%; Austral Pacific Energy (NZ) Limited as Operator of well with 36.67%; and TAG Oil Limited with13.33%.