Woollybutt 6H Appraisal Well to be Abandoned

Tap Oil says the Woollybutt-6H appraisal well, located in permit WA-25-L offshore Australia, has penetrated the top of the reservoir section at a depth below the oil water contact observed in offset wells, Woolybutt-3A and Woollybutt-5A. The well will now be plugged and abandoned.

Woollybutt-6H is a deviated appraisal well drilled approximately midway between Woollybutt-3A and Woollybutt-5A. Depth uncertainty was correctly recognized as the key issue requiring appraisal at this location. The result does not impact the recent successful Woollybutt-4H well which will be tied back to the Woollybutt facility and is expected to begin production in the second quarter 2008.

WA-25- L Joint Venture Participants are Eni Australia as operator with 65%; Tap West Pty Ltd with 15%; and Mobil Australia Resoruce with 20%.