Fletcher Wells Encounter New Oil Trend

Tap Oil says the Fletcher-1 well, located in exploration permit WA-191-P in the Carnarvon Basin of Western Australia, has been side tracked and drilled to a bottom hole location approximately 500 metres to the northeast of the Fletcher-1.

Fletcher-2 has drilled to its total depth intersecting a similar geological section to Fletcher-1. Preliminary analysis of LWD (Logging While Drilling) data indicates a 12 metre gross (4 metre net) oil column. The Fletcher-2 well intersected the Legendre Formation slightly up-dip of the Fletcher-1 well and has demonstrated the continuation of the oil column to the North-East. The well will now be plugged and abandoned.

The Fletcher wells have discovered a new oil trend in WA-191-P. The resource in the immediate vicinity of the wells is expected to be small; however, the potential of the greater Fletcher trend could be significant. Further evaluation will now be required to determine the full potential of this prospective area.

WA-191-P joint venture participants are Tap (Shelfal) Pty Ltd with 8.2%; Santos Limited as operator with 33.4%; Kufpec Australia Pty Ltd with 33.4% and Nippon Oil Exploration (Dampier) Pty Ltd with 25.0%.

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