Wednesday 10 July 2019

Tap Oil Limited provided updated information in relation to the Manora 2019 development drilling campaign now scheduled to commence on or about 9 July 2019 using the Ensco 115 jack-up drilling rig. The Manora Joint Venture partners approved the drilling of three development wells in this campaign.

These drilling operations represent cost-effective opportunities for Tap to develop undeveloped reserves and increase production. Tap has budgeted US$3.13 million (net to Tap) for the entire three well program.

The three well program comprises of:

MNA-22 Development Well

The primary objective of the MNA-20 development well is to produce attic oil in the 490-60 reservoir in the Eastern fault block in between MNA-20 and the fault. The MNA-20 well currently producing from this location will then be zone changed to produce from the 500 sands.

The planned TD of the well is 5,100ft TVDSS.

MNA-22 is a deviated well and will be completed as an up dip producer with a multi-zone selective completion in the 490-60 and 500-50 reservoirs and brought onto immediate

production. The Operator has estimated the initial production rate is expected to be 1,000 bopd using an ESP for artificial lift (Operator's estimate).

MNA-23 Development Well

The primary objective of the MNA-23 development well is to produce the low relief shallow oil column in the 370-90 reservoir that was discovered by the Manora-8ST delineation well.

The planned TD of the well is 3,550ft TVDSS.

MNA-23 will be a horizontal well completed with a screen in the open hole and brought onto immediate production. The initial production rate is expected to be 1,000 bopd using an ESP for artificial lift (Operator's estimate).

MNA-24 Development Well

The primary objective of the MNA-24 development well is to produce the low relief shallow oil column in the 370-10 reservoir that was discovered by the Manora-8ST delineation well.

The planned TD of the well is 3,465ft TVDSS.

MNA-24 will be a horizontal well completed with a screen in the open hole and brought onto immediate production. The initial production rate is expected to be 1,000 bopd using an ESP for artificial lift (Operator's estimate).