Tap Oil (TAP)

Shares / Stock Code

TAP

Stock Exchange / Sharemarket

ax

Tap Oil (TAP) is an independent oil and gas explorer and producer, with operations held in Australia, New Zealand and Asia. Tap Oil listed on the ASX on 17th September, 1996. TAP acquired a 12.2229% interest in the Harriet oil and gas fields offshore Western Australia from Marubeni Oil. The principal assets of the Company are Harriet and Woollybutt. TAP commissioned Woollybutt in 2003 and to date its production is around 29 million barrels of oil. The Company’s head office is situated in Perth Western Australia. The principal activities of Tap during the end of year 2007 were the completion of drilling operations at seven exploration and appraisal wells, the acquisition of more than 1,200 square kilometers of three dimensional (3D) seismic, discovery of a new oil resource at Fletcher and discovery of one gas resource at Wonnich Deep-1. During 2007, the Company acquired a 3D seismic survey of around 750 square kilometers in SC-41 in Philippines. It also acquired the interest in the 3D seismic in the new T/47P block of approximately 525 square kilometers in the Bass Basin. TAP announced the completion of the acquisition of the Molson two dimensional (2D) Marine seismic survey in March 2008. Tap Oil aims to increase the value for its shareholders through acquiring exploration portfolio, offering moderate risk and high quality exploration opportunities. At the core of Company’s success is its highly experienced team of oil finders in addition to the use of the best available technology. Tap is also seeking for opportunities in South East Asia region.

Tap Oil History

Tap was created on 14 March 1995, with a focus on oil and gas exploration, when Marubeni of Japan sold its interests held in the Harriet oil and gas fields to the TAP corporate entity.