Tap Oil to explore offshore Ghana contract area

March 30, 2010
Tap Oil has signed an agreement with the Ghana National Petroleum to exploration of the Offshore Accra Contract Area.

Offshore staff

PERTH, Australia -- Tap Oil has signed an agreement with the Ghana National Petroleum to exploration of the Offshore Accra Contract Area. Tap will hold a 36% interest and operate the joint venture and contract area.

Previous 3D seismic data indicates the potential for multiple large (over 100 MMbbl) oil accumulations in the area, the company says. The contract area is on the West African Transform Margin.

Tap Oil’s 2010 activity in the contract area will focus on seismic reprocessing and new seismic acquisition. The company plans to drill one well in 2011/12.

03/30/2010