South East Asia

Brunei-Block M (3,100sq km 39% Operator)

Brunei has produced billions of barrels of oil. Block M, located onshore in the prolific Baram Delta contains the Belait oil & gas field, with contingent resources of 50+ million barrels of oil equivalent (gross) and numerous high potential prospective areas. Tap has acquired 2D & 3D seismic surveys across the block and drill two wells on the Belait anticline in 2010. An additional well is planned for 2011.

Philippines-SC41 (3,580sq km 50% Operator)

SC41 is located in the Sandakan Basin off the north coast of Borneo. Located in Filipino waters, but with affinities to the prolific oil and gas provinces on the west and east coasts of Borneo, SC41 is a moderate risk, high impact exploration opportunity. Tap’s work programme commenced with the acquisition of a 750 square kilometre 3D seismic survey. Interpretation of the survey resulted in the identification of 20 leads with sizes up to and greater than 100 million barrels. An initial well tested the Lumba Lumba prospect with further drilling anticipated in 2011, subject to a successful farmout.

Indonesia-Rangkas (3,977sq km 24%)

Rangkas PSC is located onshore Java approximately 30km southeast of Jakarta. Tap recently acquired an interest in this lightly explored block and anticipates participating in seismic acquisition during 2010 with drilling potentially in 2011/12. Recent work indicates unexplored deep prospectivity which, when combined with low cost onshore wells and nearby pipeline infrastructure presents an exciting growth opportunity for Tap.