Tap Oil provided the following update on the Finucane South-1A exploration well, offshore Carnarvon Basin, Western Australia.

Location/Proposed Depth The Finucane South-1A well is located in permit WA-191-P, in the northern end of the Carnarvon Basin. The well location is latitude 19° 18' 17.927" S and longitude 116° 45' 31.697" E. Finucane South-1A is planned to take approximately 20-25 days from spud to reach a final total depth of approximately 3,500m.

Progress During the period from 0600 hours WST on May 11, 2011 to 0600 hours WST on May 18, 2011, Finucane South-1A drilled from 684m to 2,057m using semisub Stena Clyde. Casing of 133/8" (340mm) has been set at 2,049m. Current operations are preparing to drill ahead in 121/4" (311mm) hole.

Forward Plan The well will be drilled to total depth and a decision taken to plug and abandon or suspend the well.

Tags: Tap Oil Limited