Tap Oil bails out of Otway Basin farm-in

Tap Oil Limited has elected not to exercise its option to acquire 10% of the VIC/P67 permit, located offshore Australia. 

To remind, Tap Oil announced on September 18, 2013 that it had executed an agreement with WHL Energy Limited for an option to acquire an initial 10% interest in exploration permit Vic/P67 in the Otway Basin, offshore Australia.

Under the terms of the agreement, Tap purchased an option to acquire an initial 10% interest in Vic/P67 by paying up to $2.95 million of the Year Two commitment seismic costs in the permit. The payment was deferred until March 31, 2015.

The final seismic cost amounts to $ 2,778,887 and remains payable on March 31, 2015. Upon payment, Tap will have no further obligation or liability in respect of exploration permit Vic/P67.

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply