"..During the period from 1400 hours (AWST) on 2 July 2013 to 1400 hours (AWST) on 9 July 2013, Starfish-1 was drilled to a final total depth of 4,380 metres. Wireline logging operations were undertaken to evaluate the hydrocarbon potential of the primary target. The Operator has commenced its preliminary analysis. Tap’s preliminary interpretation of the wireline logs and MDT data is that no movable hydrocarbons have been encountered in the well, based on the current data. Forward Plan The forward plan is to complete wireline logging operations and evaluation of the well data and block prospectivity. The well will be plugged and abandoned as programmed.." IN MY OPINION: Disappointing news to say the least. After a great start, Tap's now down to 53.5c.
TAP Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
