Tap Oil Continues Testing at Maitland

Tap Oil says that testing operations at the Maitland appraisal well has recommenced. The Maitland wells are located in permit WA-33-R offshore Australian in the Barrow Sub-basin.

Testing operations began again on October 12th on the Maitland-3H well following remedial work to address problems associated with water influx. The Maitland-3H production test is currently in initial clean up phase with gas flow to surface and associated clean up liquids as per expectation. A stabilized production rate has not yet been established. The production test, including buildup period, is expected to take approximately one week. The well will then be plugged and abandoned as planned.

Tap is very pleased that the flow of gas to surface has confirmed the extent of the Maitland field. Initial flow performance is within expectations at this stage. The production test results will be used to establish development production rates for the field.

WA-33-R Joint Venture participants are Tap (Shelfal) Pty Ltd with 22.474%; Apache Oil Aust. Pty Ltd with 48.815%; Pan Pacific Petroleum NL with 10%; and Santos (BOL) Pty Ltd with the remaining 18.711%.