Harriet JV Begins Production from Hoover & North Pedirka

Both the North Pedirka-1 and Hoover-2 wells were drilled from the existing Victoria Production Platform which was installed December of last year and also hosts the Victoria-1, Little Sandy-1 and Pedirka-1 oil wells. North Pedirka-1 is located in permit TL/7 and Hoover-2 is located in TL/6 offshore Australia.

The Hoover Oil Field was discovered in April 2002. The Hoover-2 development well was completed as a producer on September 7, 2003. This well is producing approximately 3,000 bopd. The North Pedirka-1 well was drilled on August 19, 2003 and being an oil discovery was completed as a producing well on September 14, 2003. The well is producing approximately 2,700 bopd.

With the completion of these latest production wells, liquids production for the HJV is expected to be around 28,000 bopd.

The Harriet Joint Venture partners are Apache as operator with 68.5%; Kufpec Australia with 19.2771% and Tap Oil with 12.2229%.