Harriet Joint Venture Begins Production from Double Island

Installation and commissioning of the Double Island Oil Field development has now been completed. This field is expected to produce around 4.5 mmbls of oil (proved and probable estimate) with initial planned production rates of around 4,000 bopd. The Double Island Oil Field is located in TL/9 off the Western Australia coast, approximately 10 kilometers southwest of the Varanus island production facilities and about 7 kilometers west of the recently installed Victoria platform.

The Double Island Oil Field was discovered in January 2002. The development is nearby the recently commissioned Victoria Area mini platform. The development consists of a single wellhead un-manned micro-platform tied back to the Victoria Area platform for ultimate processing at the Varanus Island processing plant.

This new development is another addition to the successful "String of Pearls" oil fields south of the HJV production hub on Varanus Island. There are now eight oil fields tied back through the Simpson area including Tanami, Simpson, Gibson, South Plato, Victoria, Pedirka, Little Sandy and Double Island. All these fields have been discovered and quickly brought on stream over the last two years and are expected to make a significant impact on Tap's oil production and profits over the next few years.

Harriet Joint Venture Participants are: Apache Energy with 68.5%; Kufpec with 19.2771% and Tap Oil with 12.2229%.