Harriet Joint Venture Finds Gas with Ginger-1 Well

The Ginger-1 exploration well located in TL/1 offshore Australia has encountered natural gas. The well has been drilled to a total depth of 2,497 meters measured depth. A 21 meter gross gas column (13 meter net gas pay confirmed from pressure sampling) has been intersected at a depth of 2,413 meters within Jurassic sandstones. In order to further evaluate the discovery and determine reservoir characteristics, it is now planned to drill a short sidetrack to core the reservoir.

Ginger-1 has encountered a gas reservoir close to predicted thickness. No water contact was intersected indicating that the gas column likely extends downdip from the Ginger-1 location. To evaluate a downdip extension to the discovery, a future appraisal well may be required.

Harriet Joint Venture Participants are: Apache Energy Limited as operator with 68.5%; Kufpec Australia Pty Ltd with 19.2771% and Tap Oil with the remaining 12.2229%. 19.2771%.