Tap Oil Limited advises that at 0820 hours Perth time on 19 June 2013, the Stena DrillMAX, Dual Derrick Drillship commenced drilling the Starfish-1 oil exploration well in the Offshore Accra Contract Area, Ghana.

The well will target a large stratigraphic trap in the deep water of eastern Ghana, interpreted to be potentially comparable to the Jubilee oil field in western Ghana. Tap estimates that the well will target prospective resources potentially half a billion barrels, (431 mmbbls (P50)).

Tap's Managing Director/CEO, Mr Troy Hayden said,"The commencement of drilling of the Starfish-1 well in Ghana is very exciting for Tap. Although this a high risk well, it has the potential to be transformational to Tap in the event of a discovery."

Tags: Tap Oil Limited