Production Temporarily Suspended at Woollybutt Field

Production has has temporarily been suspended from one of the two wells at the Woollybutt Field. This is due to a mechanical problem on the FPSO "Four Vanguard" associated with the swivel connecting the flowlines of the ship with the internal mooring buoy. At this stage, Tap estimates that production from the field will be reduced to around 25,000 bbls per day for 2-4 days whilst the cause of problem is fully evaluated and full production re-established.

WA-234-P Joint Venture Participants are: ENI as operator with 65%; Mobil Australia Resources with 20% and Tap Oil with the remaining 15%.