spudding of kakariki-1 exploration well

LEVEL 1, 47 COLIN STREET
WEST PERTH WA 6005
AUSTRALIA
PO BOX 1783
WEST PERTH WA 6872
TEL +61 8 9485 1000
FAX +61 8 9485 1060
Email [email protected]
www.tapoil.com.au
G:\Public\ASX announcements\ASX Word\asx0187_Kakariki Spud Draft.doc
8 February 2005
The Company Announcements Platform
Australian Stock Exchange
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
SPUDDING OF KAKARIKI-1 EXPLORATION WELL
ONSHORE NEW ZEALAND
Tap Oil Limited (“Tap”) advises that the Kakariki-1 exploration well spudded on 8
February 2005.
Location
The Kakariki-1 well is located in PEP 38748 at latitude 39° 13’ 05.64”S and longitude
174° 18’ 07.51”E within the onshore Taranaki Basin.
Progress
Kakariki-1 will drill to a total depth of 1,825 metres, targeting oil plays within both the
Mt Messenger Formation and Moki Formation sandstones. It is anticipated the well will
take 11 days to complete.
PEP 38748 Joint Venture Participants:
Tap (New Zealand) Pty Ltd (Operator) 50.00%
Magellan Petroleum (NZ) Ltd 25.00%
Austral-Pacific Energy (NZ) Ltd 25.00%
Enquiries to:
Paul Underwood (Managing Director/CEO)
Telephone: (08) 9485 1000
Email: [email protected]
Website: www.tapoil.com.au
G:\Public\ASX announcements\ASX Word\asx0187_Kakariki Spud Draft.doc
ONSHORE NEW ZEALAND – SPUDDING OF KAKARIKI
Kakariki-1 (50%)
(spudded at 8.00am
8 February)
Takahe-1 (50%)
Expected to spud 1 April