Tap Finally Spuds Montgomery-1 Well

Tap Oil reports that the Montgomery-1 well was spud earlier this week. The well is located in WA-149-P offshore Australia approximately 15 kilometers west of the Wonnich Gas Field.

The Montgomery-1 well is planned to investigate a structural closure with objectives at several stratigraphic levels including the Top Barrow Group, Intra-Barrow Group and the Dupuy Formation. Tap interprets that the Montgomery prospect has the potential to contain a mean volume of 26 mmbls of oil, if successful. This will be the first deep well in the permit and will assist in evaluating other prospects and leads for future drilling. The well is expected to take 9 days to reach the proposed total depth of 3,682 meters measured depth. The well was originally scheduled to commence in December of last year, however, due to high sea swells in the area the rig was unable to jack down on location.

Joint Venture Participants are: Apache Oil with 48.815%; Tap Oil with 22.47%; Santos with 18.711% and Pan Pacific with 10.000%.