Tap Oil provides drilling update on Malida-1 exploration well

Offshore staff

SYDNEY, Australia – Tap Oil Ltd. has provided an update on the Malida-1 exploration well in the G1/48 concession in the Gulf of Thailand located 5 km (3 mi) northeast of the Manora oil development. Mubadala Petroleum is the operator of G1/48.

The well will test for the development of the main Miocene-age interval of the Manora oil-bearing sands in an independent fault dependent structure, east of the Manora field and further into the basin. Success at Malida-1 could open a new oil fairway.

The well has been drilled to a final total depth of 3,111 m (10,207 ft). Data acquired while drilling indicate the presence of hydrocarbons in the primary target. Wireline logging will obtain further data, and another update will be provided once logging and data interpretation are finalized.

11/26/2013