SYDNEY, Australia – Tap Oil has been awarded 100% interests in two blocks W14-7 and W14-16 in the Barrow and Dampier sub-basins on Australia’s North West Shelf, under the 2014 Offshore Petroleum Exploration Acreage Release.
Petroleum Exploration Permit WA-515-P spans 485 sq km (187 sq mi) on the Rankin platform in water depths of around 100-400 m (328-1,312 ft).
It is between the Wheatstone gas field to the west and the Goodwyn/Perseus gas fields to the east.
Petroleum Exploration Permit WA-516-P, covering an area of 160 sq km (61.8 sq mi), is east of the Alpha Arch on the western flank of the Barrow sub-basin and adjacent to other Tap-held acreage. Water depths vary from 50-200 m (164-656 ft).
The location is between the Griffin, Chinook/Scindian fields, and the Woollybutt oil field.
Tap’s three-year work programs involve reprocessing open file 3D seismic or licensing existing multi-client reprocessed 3D data, along with quantitative interpretation and G&G studies (at a cost of roughly $0.8 million per permit).
The optional secondary work program comprises 3D seismic acquisition in Year 4 and a well in Year 6.