Harriet JV to Bring Gipsy-4 Onstream Later this Week

The Gipsy-4 development well was a sidetrack from the North Gipsy-2H wellbore for immediate development of the oil reserves discovered in August this year by the Gipsy-3 exploration/appraisal well. The well was drilled to a total depth of 3,911 meters measured depth (2,278.8 meters true vertical depth subsea). The Gipsy-4 wellbore which intersected these reserves as prognosed, is currently being completed and expected to be online by the end of this week at a initial rate of approximately 4,000 bopd. This should bring combined HJV production to around 25,000 bopd.

The well is located in TL/1, 16 kilometers east of Varanus Island offshore Australia.

Harriet Joint Venture Participants are Apache with 68.5%; Kufpec with 19.2771% and Tap Oil with 12.2229%.