Dawn-1 Well to be Plugged & Abandoned

Tap Oil reports that the Dawn-1 well is being plugged and abandoned in accordance with the pre-drill plan. The well has been drilled to a depth of 2,711 meters measured depth. Due to mechanical difficulties the 33 meter (gross) hydrocarbon zone Middle Jurassic "Biggada" intersected from 2,502 meters to 2,537 meters measured depth has only been partially evaluated. While gas and condensate samples were recovered, the inconclusive results indicate poor reservoir quality sandstones.

The well is located in TL/1, 3.8 kilometers northeast of the Linda gas and condensate field and 20 kilometers northeast of Varanus Island offshore Australia.

The Dawn-1 exploration well was drilled to investigate an interpreted gas accumulation similar to the nearby Linda gas condensate field. While a 33 meter gas column was discovered, it remains to be determined if it will be a viable tie-in to the proposed Linda gas and condensate field development due to the indicated poorer reservoir quality at the Dawn-1 location. In order to reach that decision further analysis of the expected flow characteristics areal extent and thickness of the sand will be carried out. Regardless, Tap Oil believes that Dawn-1 has again proven the potential for stratigraphically trapped hydrocarbons in the Biggada sandstones where numerous prospects have been mapped.

The Dawn-1 exploration well will be plugged and abandoned as planned. The next wells in the program will be Toobada-1 (WA-192-P, Tap 13.7723%) and Montgomery-1 (WA-149-P, Tap 22.474%), the order and timing of which will be subject to sea state and weather conditions.

Harriet Joint Venture Participants are: Apache as Operator with 68.5%; Kufpec Australia with 19.2771% and Tap Oil with the remaining 12.2229%.