Woollybutt production temporarily shut down

Tap Oil Ltd says production from the Woollybutt field has been suspended temporarily as a result of unplanned maintenance on the Four Vanguard FPSO.

Offshore staff

PERTH, Western Australia -- Tap Oil Ltd says production from the Woollybutt field has been suspended temporarily as a result of unplanned maintenance on the Four Vanguard FPSO.

Problems with emergency shutdown equipment aboard the FPSO were identified following a normal operational shut down and restart due to a recent cyclone. The operator immediately halted production and commenced to rectify the emergency shutdown system.

Production is expected to recommence in late January once all necessary maintenance and operational verifications have been conducted. This disruption will not affect tieback of the Woollybutt South development well, Woollybutt-4H, which remains on schedule to be tied back to the facilities in late May 2008. The tieback will increase field production to over 12,000 b/d of oil.

Woollybutt is in WA-25-L approximately 40 km (25 mi) west of Barrow Island. The field is operated by Eni Australia Ltd with 65% stake in the WA-25-L. Tap oil has 15% stake and Mobil Australia Resource Co Pty Ltd has 20%.

01/10/2008

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