Tap Oil Limited ABN 89 068 572 341 Level 1, 47 Colin Street West Perth WA 6005 Australia 05 March 2010 T: +61 8 9485 1000 F: +61 8 9485 1060 E: infotapoil.com.au www.tapoil.com.au The Company Announcements Platform Australian…
Tap Oil Limited Exploration Program Update March 2010 www.tapoil.com.au 1
The Tap Oil Story Tap Oil is an upstream Oil and Gas Company with substantial opportunities for growth through exploration backed up by a strong balance sheet and established production Near Term Activity Appraisal drilling of…
Impact of Exploration Success Tap Share of Unrisked Multiple of Existing Tap Permit Well/Prospect Risk Resource Potential 2P Reserves Brunei Belait Total Low-moderate 3-25 mmbbl 62-520% - Mawar Low 3.5 mmbbl 75% - Well2 Low-moderate…
Capital Structure Top 20 Shareholders as at 2 March 2010 Listed on the ASX since 1996 Name Shares % 156.5 million shares on issue HSBC Custody Nominees (Australia) Ltd 29,891,539 19.10 HSBC Custody Nominees (Australia) Ltd - GSCO ECA…
Tap Board & Management Strength Tap Oil operates with a strong independent board & experienced management team focused on building a growing, sustainable oil company Neale Taylor Doug Bailey Peter Lane Michael Sandy Chairman (Non…
Activities Snapshot Exploration Brunei Block M (39%, Operator) Philippines Brunei Philippines SC41 (50%, Operator) Australia, North West Shelf WA-351-P (25%) WA-290-P (20%) WA-191-P (8.2%) Indonesia Australia, Bass Basin T/47P…
EXPLORATION DRILLING PROGRAM 05.03.10 119744.5 8
Brunei Block M (Tap 39%, Operator) Map Belait field 8 to 64 mmboe Location (gross recoverable) BRUNE I DAR U S SALAM Appraisal drilling commencing in June Bandar Seri Bagawan Low to Moderate risk (Defined on new 3D seismic)…
Brunei Block M Appraisal Drilling at Belait (Tap 39%, Operator) Belait field 8 to 64 mmboe (gross recoverable) Rig contracted, drilling June 2010 Mawar-1 appraising up to 9 mmbbl compartment Planned second well appraisal target to…
Bass Basin T/47P: Exciting Oil Potential (Tap 40%, Operator) Tolpuddle (10-50 mmbbl) is highest T/47P ranked oil prospect Simple structure defined on modern Map Area 3D seismic Tolpuddle Along trend from oil recovery at…
WA-351-P Low risk gas exploration for LNG (Tap 25%) Thebe & Jupiter Planned Wheatstone Success-case permit potential of (BHP 100%) 2-3 Tcf development 2-3 Tcf (gross) in a proven LNG Possible Scarborough development gas province…
WA-290-P: Zola High Impact Gas Exploration Well (Tap 20%) MAP John Brookes Campbell Zola targeting 1Tcf (recoverable) AREA WESTERN Wonnich Proven Triassic play type, immediately AUSTRALIA Gorgon south of Gorgon field Spar…
Philippines SC41 (Tap 50%, Operator) Map Prospect size 100-200 mmbbl (recoverable) Area Moderate risk Dabakan-1 Maturing prospects/ranking for drilling SC-56 (ExxonMobil) Discovery Banduria-1 Expected well cost A20 mil. (net) Tap…
Harriet Joint Venture regeneration through exploration (Tap 12.22%) Montebello Islands Multiple prospects currently being evaluated with plans underway for WA-334-P (Tap 20%) drilling of up to 4 of these in 2010 Calliope…
MEDIUM TERM EXPLORATION 05.03.10 119744.5 16
Indonesia: Rangkas PSC (Tap 24%) Early entry exploration block with Serang Jakarta potential to control new play Map Area Evidence of oil play from seeps and Serpong Pandelang previous exploration Rangkasbitung Labuhan Gas…
WA-191-P: Fletcher Remapping (Tap 8.2% in permit) MAP AREA Fletcher recoverable volumes WA-191-P 5-10 mmbbl (Tap estimate) WESTERN AUSTRALIA Potential Taps equity interest in Fletcher-3 & 4 is drilling 10.9333% MUTINEER…
New Ventures & Exploration A quality drilling program depends on having the right acreage Tap seeks to add 1-2 high quality blocks to its portfolio each year 2-3 year lead time from acreage capture to drill-ready Maximum leverage…
PRODUCING & GAS ASSETS 05.03.10 119744.5 20
Harriet Joint Venture - Oil and Gas Producing Assets (Tap 12.22%) Montebello Producing since 1986 Islands Campbell Spread of multiple fields and wells WA-334-P (Tap 20%) Taps initial interest acquired in 1996 Sinbad Endymion HJV…
Woollybutt Oil Field (Tap 15%) The FPSO has returned to the field Woollybutt after drydock and recommencement WESTERN of production is now imminent AUSTRALIA Tap expects production to resume at around 8 to 9,000 bopd Production…
Contracted Third Party Gas Tap secured 30 Bcf of gas in 2005 from the John Brookes JV (JBJV) at 2005 prices Taps JBJV sales contracts commenced in September 2007 at domestic market rates substantially higher than Taps purchase…
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