Tap Oil Limited has entered into a Gas Sale Agreement with a Western Australian customer for gas sales over a 9 month period ending 30 June 2008.

Tap has approximately 33PJ of gas available to it under arrangements entered into in 2005 with the John Brookes Joint Venture to be delivered over the next 9 years. Accordingly, Tap has entered into an arrangement to on-sell a portion of this gas over the next 9 months under the Agreement.

The Agreement is expected to contribute in excess of A$12M to Tap’s sales revenues over the abovementioned delivery period.