Tap Oil Limited (Tap) provides the following information for the Harriet Joint Venture.

The Simpson-9 and Simpson-10 wells were drilled from the Simpson Bravo Platform, located in permit TL/6, part of the Harriet Joint Venture. The Simpson-9 and -10 prospects are located approximately 2.5 km south of Varanus Island.

Lee-4 is being drilled from the Linda Platform, located in permit TL/1. Linda Platform is located approximately 17 km NW of Varanus Island in 32m of water.

Apache is the operator of the permit and is drilling Lee-4 on behalf of the joint venture partners.

Simpson-9 and Simpson-10 wells have now both been completed and the Ensco 106 jack up rig has subsequently commenced drilling Lee-4.

The Lee-4 development well was spudded on Saturday 9 August 2008 and is currently drilling ahead to intersect objectives in the North Rankin, Brigadier and Mungaroo reservoirs of the Lee field. Lee-4 will be completed as part of the Lee field development. This deviated well is expected to take 34 days to drill.

Simpson-9 and 10 have been successfully completed as oil producers and are expected to commence production in December in line with the repairs to the Harriet Joint Venture processing facilities on Varanus Island.

Lee-4 will increase the deliverability from the Lee field which was discovered in 1999 and brought onto production in 2007.

Harriet Joint Venture Participants:

Tap (Harriet) Pty Ltd 12.2229% Apache Northwest Pty Ltd 68.5% Kufpec Australia Pty Ltd 19.2771%

Tags: Tap Oil Limited, Varanus Island