Tap Oil Limited is offering interested parties the opportunity...

Tap Oil Limited is offering interested parties the opportunity to acquire a substantial equity, on attractive terms, in Exploration Permit T/47P located in the Bass Basin, a proven hydrocarbon province with multiple objectives.

Up to 60% equity is available, with the opportunity to participate in early exploration drilling. Three robust, drill-ready prospects have been defined on high quality 3D seismic with recoverable volumes up to 50-100 mmbbls each, and additional exploration upside also identified on both 3D and 2D seismic. Main reservoirs are good quality shallow Middle Eocene sands in a proven oil fairway.

Exploration Permit T/47P is in close proximity to the producing Yolla Field and the recent Trefoil and Rockhopper discoveries, as well as being close to the SE Australia energy market (150km from Geelong oil refinery).

This is an ideal opportunity for an established player or new entrant to join with Tap Oil Limited in this established basin.


Sunday, August 22, 2010