tap oil begins 3d seismic survey

Source: News Bites


Tap Oil Ltd and joint-venture partners the Republic of Ghana and the Ghana National Petroleum Company will begin a new 3D seismic survey after recent studies highlighted additional potential in the deeper water portion of the Accra block, offshore Ghana.

The survey is subject to final environmental approval.

The interpretation of this 2D data has confirmed the presence of a potentially significant structural trend and several stratigraphic-structural features in the Accra block which appear similar to those explored successfully elsewhere along the West African transform margin. Rather than acquiring further 2D seismic data, the joint venture has decided to move directly to acquiring 3D seismic data to mature this potential to a drill-ready status.


STOCK DASHBOARD: November 10, 2010

TAP Oil

Closing Price: 83.0c

Price change from previous trading day: -0.6%

Relative Strength (6 months percentile rank): 19.6

Market capitalisation: $129.9 million

Price/Earnings: 19.5 times

Turnover volume: 400,554.0

Volume Index (1 is average): 1.003

Turnover value: $333,538

Turnover period: 1 year 3 months

Value of $1,000 invested 1 year ago: $806

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