Tap Oil Limited (Tap) provides the following information on the Dibbler-1 exploration well which spudded on 8th of September 2008.

The Dibbler-1 well is located in the Carnarvon Basin exploration permit WA-334-P, at latitude 20o 35’ 31.718"S and longitude 115o 21’ 43.455"E, approximately 12 km northwest of Barrow Island and 20 km west of Varanus Island. The surface location of the well is only 215 m from the John Brookes gas pipeline.

The Dibbler-1 well spudded at 23:00 hours, 8th of September 2008, and reached a total depth of 3,504 metres measured depth on 18th September before final logging was carried out.

The primary Dupuy Formation objective was intersected as expected. Although a significant reservoir section was penetrated, log interpretation indicates that no hydrocarbons are present. All deeper secondary objectives were also dry.

The well has now been abandoned as a dry hole and the rig has now been released.

The lack of success in the primary objective at Dibbler-1 is disappointing but not inconsistent with the high risk nature of exploration for this play type. Dibbler-1 has satisfied the Year Six well commitment in this permit which also contains the undeveloped Kultarr discovery (gross 32 bcf). Kultarr could potentially be developed via the adjacent Harriet Joint Venture infrastructure.

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