Libris-1 Exploration Well to be Plugged

Tap Oil

Tap Oil says that the Libris-ST1, located in the northern portion of permit WA-246-P in the Dampier sub-basin, had been drilled to a total measured depth of 3,481m and is currently being plugged and abandoned.

Interpretation of wireline logs indicates a sub-economic oil discovery in the primary objective Angel Formation. The well will be plugged and abandoned.

Information from this discovery will be used to further assess the prospectivity of Tap's interests in the area.

WA-246-P Joint Venture Participants are Apache as operator with 45%; Tap (Harriet) Pty Ltd with 10%; Kufpec Australia Pty Ltd with 20%; Santos (Globe) Pty Ltd with 15%; Pan Pacific Petroleum NL with 10%.