Mubadala looks to build on Malida discoveries offshore Thailand

Tap Oil has issued an update on exploration plans for some of its concessions offshore Thailand and Western Australia.

May 1st, 2015

Offshore staff

WEST PERTH, Australia – Tap Oil has issued an update on exploration plans for some of its concessions offshore Thailand and Western Australia.

The company has a 30% interest in the G1/48 concession in the northern Gulf of Thailand, operated byMubadala Petroleum. The Manora discovery in late 2009 opened up a new oil play in this region.

Mubadala is finalizing a review of the G1/48 permit area, integrating the results of the successfulMalida-1 well and subsequent Malida side tracks. It has selected a preferred prospect for drilling in 2015 from the portfolio, which now looks likely to spud around year-end.

TAP is a partner in the WA-320-P and WA-155-P (Part II) exploration permits in the Carnarvon basin offshore Western Australia. The Palmerston prospect straddles both permits.

This is a Triassic fault block with structural similarity to the Zola structure. The Palmerston-1 well will target sandstones in the proven Mungaroo formation play and will satisfy the Year 3 well commitment.

The WA-320-P joint venture has licensed around 310 sq km (120 sq mi) of multi-client 3D seismic data from theTGS Huzzas MC3D seismic survey. Processing is expected to be completed by mid-year.

This new data will assist planning for the Palmerston well, likely to be drilled by 3Q 2016.

05/01/2015

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