I believe that BHP and partners (Apache 28.6%,Kufpec 18.9%) will...

I believe that BHP and partners (Apache 28.6%,Kufpec 18.9%) will drill Bunyip-1 toward the end of April .................
Always hard to get much in the way of disclosure from BHP tho'

It is very relevant to TAP because of it's proximity to Tallaganda - i.e. any success would seem to make 351 more valuable in the longer term.

I did some Google searches on both blocks and came up with the following - obviously the Tallaganda spud has been and gone (and some 10 months later BHP announced it as their biggest gas strike of the year). A bit late for the TAP share price to move !!!!
Some interesting stuff, I think -

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The Tallaganda prospect is in block WA-351-P, in the Carnarvon Basin offshore from WA. The prospect has been high graded as being attractive, and an early drilling candidate.
Tallaganda straddles WA-351-P and WA-335-P blocks and has a prospective resource of between 0.8 trillion cubic feet and 1.3Tcf within WA-351-P.

The high chance of success in this permit was also reinforced when Hess Corporation reported 13 gas discoveries from 16 exploration wells drilled to date in the WA-390-P permit, immediately north of WA-351-P.

WA-335-P borders WA-351-P where Tallaganda-1 Triassic Mungaroo FM discovery made in Q2 2012

JV partner Tap Oil attributed ~500BCF gas to Tallaganda structure within WA-351-P

Tap trying to sell out of its 20% position in WA-351-P [also *BHP 55% & Apache 25%]

Tallaganda also mapped as crossing border into adjacent WA-335-P permit to southWA-335-P borders WA-351-P where Tallaganda-1 Triassic Mungaroo FM discovery made in Q2 2012

JV partner Tap Oil attributed ~500BCF gas to Tallaganda structure within WA-351-P

Tap trying to sell out of its 20% position in WA-351-P [also *BHP 55% & Apache 25%]

Tallaganda also mapped as crossing border into adjacent WA-335-P permit to south

Bunyip-1 likely to target southern portion of Tallaganda structure that extends into WA-335-P

BHP farmed into Apache-operated WA-335-P in September 2009 for 30% [also Kufpec 24.5%] & then increased interest

Deepwater rig required for Bunyip-1; BHP contracting floater Jack Bates for 3+1 after current Total program

Bunyip-1 likely to target southern portion of Tallaganda structure that extends into WA-335-P

BHP farmed into Apache-operated WA-335-P in September 2009 for 30% [also Kufpec 24.5%] & then increased interest

Deepwater rig required for Bunyip-1; BHP contracting floater Jack Bates for 3+1 after current Total program

Both WA-351-P and WA-335-P are operated by BHP Billiton Petroleum Pty Ltd.
“We believe there are a number of other prospects on-block within the Triassic Mungaroo formation that could be considered for further drilling to aggregate additional gas volumes,” said Troy Hayden, Tap managing director and CEO. “Additional leads and prospects have also been identified in the Jurassic and Early Cretaceous section.”