Manora production stalled as development continues

SYDNEY, Australia – Tap Oil Ltd.’s planned batch drilling of the first three development wells on the Manora project is ahead of schedule, with MNA-01 and MNA-02 drilled to the targeted depths. MNA-03 is progressing as planned.

Two of the development wells encountered 172 ft (52 m) and 160 ft (49 m) of net oil pay, respectively, in the three 600 series reservoirs of the central fault block. They will be completed as single zone producers in two of the three reservoirs.

Production at Manora is now expected to commence in the second half of October, rather than at the end of 3Q 2014, due to poor weather and delays in commencing the platform commissioning, according to Mubadala Petroleum, operator of the Manora Oil Development joint venture. The commissioning work is well under way, he remarked.

The Manora A platform is located within the Gulf of Thailand in 46 m (151 ft) of water. The program calls for drilling and completing 15 wells (10 producers and 5 injectors), with final preparations ending in 1Q 2015.

Mubadala Petroleum holds a 60% stake; while Tap Energy holds 30%; and Northern Gulf Petroleum holding the remaining 10%.

09/30/2014

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