Tuesday 20 August 2019

Tap Oil Limited provided updated information in relation to the completion of the Manora Development drilling program which commenced with the first well spudded on the 9th July 2019 using the Ensco 115 jack-up drilling rig. The program entailed batch drilling of the top-hole sections of three wells followed by drilling of the reservoir sections.

As previously reported on the ASX release dated 5th August 2019, both the MNA-24H and MNA-23H horizontal development wells targeting undeveloped reserves in the 300 series sands were both drilled from the Manora platform. The MNA-24H well reached final total measured depth of 2,216 metres whilst the MNA-23-H well reached a final total measured depth of 2,216.1 metres.

Both MNA-23H and MNA-24H wells have been completed and handed over to production operations. Currently multi rate testing is being carried out on both wells ahead of moving into long term production. Tap will provide a further update on these wells once production from the wells has stabilised.

MNA-22H update

The objective of the MNA-22H well was to provide a second drainage point in the 490-60 and 500 reservoirs completed in the nearby MNA-20 well. On 4 August 2019 at 06:00 hours (WST) the MNA-22 well reached final total measure depth of 2113 m. Petrophysical interpretation of well logs show a total oil net pay of 56.5 m in the 490-60 and 500 sands. The well has been suspended and will be completed with a work over rig at a later date. Tap will provide a further update on MNA-22H when the work over activities have been completed.

Forward Plan

With the Development drilling program now completed ahead of schedule and on budget, the rig was demobilised on the 14th August 2019. Tap expects the Ensco 115 jack up rig to return for further exploration drilling in November 2019. Tap will provide further updates once the exploration program has been finalised.