Harriet JV Spuds Marley-2

The Harriet Joint Venture reports that the Marley-2 exploration has been spud by the Ensco 106 jackup. The well is located in permit TL/5 offshore Australia west-southwest of the existing Campbell Platform and 143 meters north of Marley-1.

Marley-2 is a vertical exploration well designed to test the Jurassic sandstones that were not reached by the Marley-1 well, drilled December 2005 / January 2006. Drilling is estimated to take approximately 48 days to reach the expected total depth of 4,100 meters subsea.

Marley-2 is adjacent to existing joint venture infrastructure and is a high impact well, with the potential to more than double Tap's reserves.

TL/5 joint venture participants are Apache Northwest Pty Ltd with 68.5%; Tap (Harriet) Pty Ltd with 12.22295 and Kufpec Australia Pty Ltd with 19.2771%.

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