Harriet JV Says Only Minor Shows in Agamemnon-1

Tap Oil says that the Agamemnon-1 well, located in Production License TL/6 offshore Australia, had drilled ahead to the planned total depth. Logging data showed the Agamemnon Prospect reservoirs to be primarily water bearing with minor hydrocarbon indications.

The well is the second of three deviated wells in Production License TL/6 to be drilled from a single surface location.

The well will be plugged back to commence the sidetrack drilling of the third well in the program, Priam-1.

Priam-1 will be drilled as a deviated well to a target approximately 1.5 km to the northeast from the same surface location.

The Agamemnon-1 well is interpreted to have intersected a thin hydrocarbon zone which is sub-commercial. Priam-1 is expected to take approximately 5 days to reach the proposed total vertical depth.

Harriet Joint Venture participants are Apache Northwest Pty Ltd as operator with 68.5%; Tap (Harriet) Pty Ltd with 12.2229%; and Kufpec Australia Pty Ltd with 19.2771%.

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