Marley-2 Drilling Ahead

Tap Oil reports that the Marley-2 exploration well which was spud on April 22nd by the ENSCO 106 is currently at 2,642 mTVD. Drilling will continue to the programmed next section depth of approximately 2,955 mTVD.

The well is located in permit TL/5, part of the Harriet Joint Venture, within the Barrow sub-basin. It is approximately 3.5 kilometers westsouthwest of the existing Campbell Platform and 143 meters north of Marley-1. Water depth is 43 meters.

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 35 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 Tap (Harriet) Pty Ltd. with 12.2229%; Apache Northwest Pty Ltd with 68.5% and Kufpec Australia Pty Ltd with 19.2771%.
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