Tap Starts Bass Basin 3D Survey

Tap Oil says that acquisition of the Labatt 3D Marine Seismic Survey commenced on December 1, 2007. The PGS vessel M/V Pacific Explorer will acquire a total of approximately 517 sqkm of full fold data. The survey is estimated to take approximately 30 days to complete.

Tap commented: "The primary aim of the Labatt 3D Seismic Survey is to mature the prospectivity of the western side of T/47P where the existing 2D seismic data has shown a number of potential structures in the vicinity of the Cormorant-1 well, which encountered oil in 1970."

Final seismic volumes from the survey will be available for interpretation in the second quarter of 2008 and a rig has already been secured for two wells to be drilled early in 2009.

Tap is very pleased to be rapidly progressing the work program of T/47P, which was only awarded in March 2007.