Mubadala Spuds Manora Appraisal/Development Well
Monday 5 September 2016
Tap Oil Limited (ASX:TAP) provides the following update on the Manora Oil Development in the Northern Gulf of Thailand (TAP 30% interest).
The Joint Venture has identified an opportunity to add further near facility production at the Manora Oil Development in 2016 through additional development drilling, and to potentially add further contingent resources via an appraisal well.
Location/Purpose
Mubadala Petroleum, Operator of the G1/48 concession, has advised that at 03:00 hrs WST on 3 September 2016 the Atwood Orca jackup drilling unit commenced drilling the MNA-17 well at the Manora Oil Development. The MNA-17 well will be drilled from the Manora platform and has both an appraisal and development component.
The MNA-17 (AP) well path is planned an as appraisal/pilot well, appraising the 500 series sands and assessing a separate untested fault block, the Manora West Structure, which has the potential to de-risk the Greater Manora West prospective resources.
The MNA-17 (AJ) well will utilise the upper pilot section before being deviated into the Central Fault Block as a new production well. MNA-17 (AJ) is expected to increase Manora production performance.
The MNA-17 (AP) well will be drilled to a total depth of 1,859.3 metres total vertical depth subsea (TVDSS) and drilling is expected to take 5 days on a trouble free basis. The deviation to MNA-17 (AJ) is expected to take 5 days with a total depth of 1,981.2 metres TVDSS.
Budget
The well cost is expected to be US$2.5 million (net to Tap).
Forward Plan
Tap has 2P reserves of 4 mmbbls (13.2 mmbbls gross) as at 31 December 2015 booked for Manora (ASX release 26 February 2016). Tap will review these reserves and contingent resources following development drilling and production performance.