Marley-1 Exploration Well Suspended

Following re-manning of the rig after Cyclone Clare the Marley-1 exploration well has been suspended due to mechanical problems encountered when re-entering the well. The well had been drilled to a measured depth of 3,115 meters.

Suspending the Marley well at this stage will allow the Joint Venture Partners to re-evaluate the design of this high pressure well such that the primary objective can be drilled and fully evaluated. The Ensco 106 rig will move off the Marley-1 location later this week and will return to drill other Harriet Joint Venture wells in March.

The well is located in permit TL/5 in the Barrow sub-basin approximately 3.5 kilometers west-southwest of the existing Campbell Platform.

Participants in the TL/5 joint venture are Apache Northwest Pty with 68.5%; Tap (Harriet) Pty with 12.2229% and Kufpec Australia with 19.2771%.

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