Tap Oil Limited ("Tap") is an oil
and gas
exploration and production company with interests in
Australia, New Zealand and Asia (Brunei and
Philippines).
Tap aims to deliver exceptional value to
its shareholders by maximizing the value of its
producing assets and by discovering, developing
and producing high quality oil and gas resources.
Tap's main production assets at this stage are its 12.22%
interest in
the Harriet Group of oil and gas fields and a 15% interest
in the Woollybutt
Oil Field both located offshore in the Carnarvon Basin,
Western Australia.
The Harriet Group of oil and gas fields
The Harriet Group of oil and gas fields include the
following:
| FIELD |
HYDROCARBON |
| Developed |
| West Cycad |
Oil |
| Doric |
Gas/Condensate |
| Lee |
Gas/Condensate |
| Harriet |
Oil/Gas |
| Wonnich |
Gas/Condensate |
| Tanami |
Oil |
| Agincourt |
Oil |
| Simpson |
Oil |
| Gipsy/Nth.Gipsy |
Oil |
| Sth.Plato |
Oil |
| Victoria/Pedirka/Nth Pedirka/ Little Sandy |
Oil |
| Endymion |
Gas/Condensate |
| Double Island |
Oil |
| Gudrun |
Oil |
| Linda |
Gas/Condensate |
| Nth Alkimos |
Oil & Gas |
| Albert |
Oil |
| Mohave |
Oil |
| Rose |
Gas/Condensate |
| Artreus |
Oil |
| Bambra |
Oil/Gas |
| Zephyrus |
Oil |
These oil and gas fields are centered around the Varanus
Island production
infrastructure hub, an important strategic facility to Tap.
The Varanus
hub comprises substantial facilities to process both oil
and gas for
export.
The Harriet group of fields oil production is piped to the
island,
processed, stored and then offloaded into tankers on a
regular basis.
Gas produced by the Harriet Group of fields is also piped
to the island,
processed through three gas trains and then exported to
industrial and
domestic customers via two pipelines to Compressor Station
#1(CS1). CS1
is located at the juncture of the Dampier to Bunbury
Natural Gas Pipeline
and the Goldfields Gas Transmission Pipeline. Harriet gas
is exported
down both of these pipelines.
Woollybutt Oil Field
Tap has a 15% interest in the Woollybutt Oil Field located in the
Carnarvon Basin west of Barrow Island.
High quality, light, sweet crude oil is produced from the field using
a leased
Floating Production, Storage and Offtake (FPSO) vessel, the "Four
Vanguard". Oil
is currently produced from three subsea wellheads via a
Disconnectable Single
Point Mooring System.
This facility is well located to be used for production from any
other commercial discoveries at the Woollybutt South field or
separate exploration prospects within the associated Production
Licenses.
The knowledge gained from participation in the Woollybutt area gives
Tap a sound
basis on which to explore and develop other prospects in similar
geologic
provinces in the Carnarvon Basin.
Other Discoveries
In addition to the above fields, Tap has an interest in the following undeveloped discoveries;
- A 22.4% interest in the Maitland gas discovery west of the Harriet facilities
- A 20% interest in the Kultarr gas discovery west of the Harriet facilities.
- A 20% interest in the Amulet oil discovery in the Dampier Sub-basin.
|
Exploration Potential
The Company has interests in highly prospective permits
covering in
excess of 40,000 square kilometres ("gross") in
its
areas of focus in Australia, New Zealand and Asia. The Company
uses its strong balance sheet and the cash flow from
operations to fund an aggressive exploration program of
around A$40+ million per year.
The Company has 156 million shares on issue. It is based in
Perth and listed on the Australian Stock Exchange Limited
(listing code = TAP). |
