Tap Oil Limited (“Tap”) provides the following information on the Maitland-2 well which spudded on 6th September 2007.

The Maitland-2 appraisal well is located in permit WA-33-R at a surface location of latitude 20°32'34.59"S and longitude 115°09'47.19"E in the Barrow Sub-basin, approximately 40 kilometres north-west of Barrow Island and 5 kilometres south-east of the John Brookes field.

Maitland-2 spudded this morning 6th September, and will continue to drill to a Total Depth of around 1,400 metres measure depth. It is expected to take four days to reach total depth.

The Maitland-2 well will be drilled vertically, then sidetracked in order to collect conventional core. The Maitland-2 wellbore will then be sidetracked and a horizontal section of around 4-500 metres is planned to be drilled. This horizontal section will then be flow tested to establish potential development production rates. The flow testing programme is expected to commence in around 2-3 weeks time.