TAP have previously said that 60 PJ of gas and 1mmbls of condensate could be converted to TAP which would more than double TAP's reserves.
Preliminary reports are positive...
Progress As of Monday 17th September Maitland-2 had drilled to its total depth intersecting the Maitland reservoir section on prognosis. Hydrocarbon shows were observed through the reservoir interval and wireline logging operations are currently underway. Tap Comment Preliminary analysis indicates that the reservoir is gas charged. After the completion of wireline operations Maitland-2 is planned to be sidetracked in order to collect conventional core over the reservoir interval. A horizontal sidetrack, Maitland-3H, will then be drilled and flow tested to establish potential development production rates. The flow testing programme is expected to commence in around two weeks time.
TAP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held