Tap Oil Limited Investor Presentation July 2008 www.tapoil.com.au This presentation contains some references to forward looking assumptions, representations, estimates budgets and outcomes. These are uncertain by 1the nature of…
The Tap Oil Story Tap Oil is an ASX listed Oil and Gas E&P Company with established production and a pipeline of exciting exploration opportunities in Australasia Key Strengths Established Asset base with: Developed Reserves -…
The Tap Oil Strategy for Growth Res Taps value proposition: Grow asset value per share by discovery and addition of reserves and resources To do this Tap Oil combines the following key elements: Right People Board / Leadership /…
Tap has a Portfolio of Quality Exploration & Appraisal Opportunities High Chance of Success Raising the cut-off Low Time to Production 04/07/08 84945.1 4
Tap 2008 to early 2009 Drilling Programme Tap will spend A60 million in 2008 pursuing a portfolio of moderate risk, high impact opportunities 2008 2009 Location Tap Equity Q2 Q3 Q4 Q1 Q2 (%) Marley-2 Simpson-9 Carnarvon Basin…
Tap Oil: Multi-pronged strategy for growth Brunei Block M Oil & gas redevelopment & Philippines SC 41 exploration High impact oil exploration Drilling & seismic late 2008 Drilling mid 2008 Company changing event WA Oil Existing…
Woollybutt Oil Field (Tap 15%) Oil Production re-commencing Production recommenced 13th June after addressing issues with safety equipment and gas leak Woollybutt South hookup completed within schedule and budget Currently…
Harriet Joint Venture (Tap 12.22%) Oil and Gas Producing Assets Production currently shut in due to pipeline incident on 3rd June Effective emergency response, no casualties Taps contracted gas from John Brooks expected to resume…
Western Australia Gas Strategy WA Gas prices increased 3 fold to A7.50/GJ Tap well positioned along value chain Green field Near term Gas Production Gas Gas Appraisal & Marketing Exploration Exploration WA-351-P Marley-2…
Secured Gas Contracts = Major Revenue Stream Estimated Gas Sales Revenue (A,000) In 2005 Tap secured 33PJ of gas 35,000 from the John Brookes JV at 2005 30,000 gas prices 25,000 20,000 New Domgas contract prices have…
Maitland Gas Field - Appraisal Program (Tap 22.47%) John Brookes Maitland Varanus Island 40km Sales East Gas Spar Pipelines Maitland-3H Well Gas Pipeline Western Test Flaring Oil Pipeline Australia 40km from Varanus…
Marley Prospect: located under existing Harriet Joint Venture Infrastructure (Tap 12.22%) Marley-2 Drilling now Campbell Marley Established HJV infrastructure (gas) and strategic position rapid field development Wonnich Sinbad…
Harriet Joint Venture: Marley-2 (Tap 12.22%) Marley-1 Marley-2 Top Barrow High Impact Gas Game Changer Base Cretaceous Marley-1 suspended in Jan 2006 due to mechanical issues upon re-entry after cyclone Marley Re-assessment of…
WA-351-P: Gas Exploration Hot Spot LNG Potential (Tap 25%) WA-404-P 200+m bid WA-351-P contains prolific Triassic by Hess/Woodside Io/Jansz 20+Tcf gas fairway known for potential for large gas accumulations Thebe discovery…
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Near Stack Large horst closure at Top Triassic 04/07/08 84945.1 15
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Far Stack Bright Far Stack indicates presence of gas Large horst closure at Top Triassic Historical success rate around 50% for drilling prospects on 3D…
WA-351-P: Large 3D seismic survey planned for Q3 2008 (Tap 25%) Likely 3D Seismic Coverage Over 20 leads defined on high quality 2D seismic data Each has strong amplitude support for the presence of gas Cumulative unrisked…
Bass Basin T/47P: Overlooked Oil Potential (Tap 40%, Operator) Fast track 3D seismic Volume Section Timeslice North Cormorant lead Oil discovered on block at Cormorant-1 (1970) Labatt 3D seismic survey acquired Dec 07…
South East Asia - Building a Circum-Borneo Portfolio Borneo basins have yielded billions of barrels Tap has a multi-national strategy capturing under-explored areas or overlooked resources SC 41 (Tap 50% & operator). Very high…
SC 41: Yielding high impact prospects for drilling Q3 2008 (Tap 50%, Operator) Over 20 prospects and leads identified in the Alpine 3D seismic survey region Prospects and leads occur at many levels, with structural and…
Philippines SC 41: Lumba Lumba Prospect Large Structure - mean recoverable volume in 50-100mmstb range Moderate risk Favourable reservoir interpreted at several levels Focus area for hydrocarbon migration 5 km Lumba…
SC 41 Lumba Lumba Reservoir Objectives Gas Cloud Main reservoir objectives Lumba Lumba-1 multiple stacked objectives within Central Inversion Closure 04/07/08 84945.1 22
Lumba Lumba follow up Structural and Stratigraphic Targets Numerous reservoir fairways Shallow reservoir within various stratigraphic fairways intervals (bright colours) Large structures Gas clouds indicate hydrocarbons Lumba…
Brunei Block M (Tap 39%, Operator) Taps new strategy in action: high equity, operatorship in proven basins Tap awarded 39% operated role in Block M in October 2007 3,100km2 onshore block located in the prolific Baram Delta…
Brunei Block M: In the land of the giants (Tap 39%, Operator) Offset Producing Fields Fairley 2 Tcf & 200 mmbls Ampa 12 Tcf &1000 mmbls Seria 1.6 Tcf &1100 mmbls Block M 10km Belait Field SERIA BELAIT Contingent Resource…
Taps New Ventures Focus New Ventures Focus Taps goal is quality not quantity South East Asia Proven basins Fluid market for opportunities numerous Focus Areas build: under review Knowledge of basins Near term drilling to long…
Closing: Balanced Portfolio of Near Term High Impact Events Marley-2 drilling result - Potential 250% increase in Tap July 08 reserves Woollybutt South Startup - More than double field July 08 production Drilling in Philippines…
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