junior oilers 2 march, page-12

I enjoy reading your posts jocam9, just to add to your post TAP is one of my favourite oilers.

Receives minimal coverage but I trade it frequently with a couple of losses on the way, I currently hold at $1.35.

- HY NPAT hit a record high @ $9.4 mill with revenues increasing 37% to $25 million;
- Three new production wells at the Simpson Oil Field were succesfully commissioned. This bodes well with the POO in AUD conversion.;
-Woolybutt Oil Field is near completion and on budget, time table commencement for production begin late March and is set to produce 35k bopd as an initial production rate.;
-TAP acquired permits at the Taranaki basin with gas condensate recovery.;
- A strong balance sheet with net debt to equity ratio of 1%;
-In conjunction with a busy drilling programme as outlined below;

FORWARD DRILLING PROGRAMME
Well Name Date Permit No. Well Type Style Tap %

EXPLORATION WELLS

Crackling South-1 Q1 2003 EP341 Oil Expl. Lower Cretaceous 50%
Banjo-1 Q1 2003 EP397 Oil Expl. Mungaroo Sst 33.3%
Montgomery-1 Q2 2003 WA-149-P Oil Expl. Dupuy Fm/ 22.5%
Barrow Group
Toobada-1 Q2 2003 WA-192-P Oil Expl. Flag Sst 13.77%
Ginger-1 Q3 2003* TL/1 Oil Expl. Biggada Sst 12.2%
Amulet-1 Q4 2003* WA-8-L Oil Expl. Jurassic 20%
Sheila-1 Q4 2003* WA-291-P Oil Expl. Mungaroo Sst 15%

APPRAISAL/DEVELOPMENT WELLS

Simpson 7 Q1 2003 TL/6 Oil Dev. Flag Sst 12.2%
West Simpson 1 Q1 2003 TL/6 Oil Dev. Flag Sst 12.2%

* subject to Joint Venture approval.