tap oil restarts production at wollybutt

Source: News Bites


Tap Oil Ltd has restarted oil production at the Wollybutt field as the dry dock of the Four Rainbow FPSO ship has been completed. Production was suspended on April 28, 2009 to undertake a dry dock for the ship to extend its life and allow it to remain on location to the end of the Woollybutt field life.


Over the next few weeks various tests and procedures will be carried out after which oil production rates are expected to return to pre-shut down levels of 8,000 to 9,000 bopd.


WA-25- L Joint Venture:

Eni Australia Ltd (Operator) 65%

Mobil Australia Resource Co Pty Ltd 20%

Tap West Pty Ltd 15%


STOCK DASHBOARD: March 09, 2010

TAP Oil

Price at 3:00 pm: 94.50c

Price change from previous trading day: -0.5%

Relative Strength (6 months percentile rank): 30.6

Market capitalisation: $147.9 million

Turnover volume: 367,119.0

Volume Index (1 is average): 1.03

Turnover value: $350,550

Turnover period: 1 year 5 months

Value of $1,000 invested 1 year ago: $1,350