Harriet Joint Venture Spuds Selene-1 Well

The Selene-1 exploration well located approximately 3 kilometers from the Sinbad production platform in TL/5 was spudded on October 17, 2002. The well is being drilled from the platform to a bottom hole location. The planned total depth of the well is 3,986 meters measured depth and is anticipated to reach its Flag Sandstone target in approximately 8 days.

Selene-1 is a follow up to the successful Endymion-1 gas discovery, and will target a small culmination at the top of the Flag Sandstone to the northeast of the new Endymion Gas Field and southeast of the Sinbad Gas Field. The Endymion discovery was the result of recent new seismic mapping in the Sinbad area using the same geophysical model developed at Simpson. Several new prospects have been identified including Selene and work is progressing to develop some of these for drilling in the near future. Harriet Joint Venture Participants are Apche as operator with 68.5%; Kufpec Australia Pty Ltd with 19.2771% and Tap Oil with the remaining 12.2229%.