Tap Oil Re-Commences Woollybutt Production

Tap Oil Limited advised that production from the Woollybutt field re-commenced on June 13, 2008.

The Woollybutt field located in permit WA-25-L includes the previously drilled Woollybutt and Scalybutt wells and the recently commissioned Woollybutt South 4H Development well.

The technical and compliance issues that caused the Woollybutt field to be shut in this year have been rectified allowing production to re-commence.

Production from the Woollybutt field has now commenced at approximately 6000 bopd and is predicted to increase to 12,000 bopd when production from the Woollybutt South 4H well commences in the near term.

Incorporating the Woollybutt South 4H well will see production from the northern and southern lobes which will assist in reaching the greater Woollybutt Field ultimate reserves of approximately 40 MMbbls of which 29 MMbbls have been produced to date.