Tap Oil Ltd announces Tallaganda-1 well drilling update

Wednesday, March 7, 2012
  • Commissioned in 2003, the Woollybutt field has exceeded expectations and produced 29 million barrels of oil from an estimated 40 million barrels ultimately recoverable.

Tap Oil Limited is an independent oil & gas exploration and production company with interests in Australia and South East Asia. Headquartered in Perth, Western Australia, Tap was incorporated on 14 March 1995 and subsequently listed on the Australian Securities Exchange (ASX:TAP) in September 1996. At the time, Tap's primary asset was 12.2229% of the Harriet oil and gas fields obtained from Marubeni Oil. In 1997, Tap farmed into WA-234-P and participated in the Woollybutt exploration well, resulting in a commercial oil discovery. Commissioned in 2003, the Woollybutt field has exceeded expectations and produced 29 million barrels of oil from an estimated 40 million barrels ultimately recoverable.

In 2010 Tap was formally awarded a significant interest in Offshore Accra Contract Area by the government of Ghana. Later in the year Tap acquired 75% of Northern Gulf Petroleum Pte Ltd, which holds a 40% interest three concessions in north and central Gulf of Thailand (G3/48, G1/48, G6/48). In addition, Tap has acquired a significant offshore acreage position in the Australian North West Shelf and intends to continue a measured exploration and development program over the coming years.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Nanotechnology hits the oilpatch
    Dropping energy prices—for both oil and natural gas—has investors and analysts checking to see what the break-even price is for oil production in each play ...
  • Eight pieces of our oil price predicament
    A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training


Opinions & Commentary

Tech Talk - Pessimistic Talk in a time of surplus

by David Summers

Read More »