Thailand: Tap Oil Finds No Hydrocarbons in Manora-4 Well


Tap Oil Limited provides the following update on the Manora-4 appraisal well, in concession area G1/48, Gulf of Thailand.

Location / Proposed Depth

The Manora-4 well is located in the northern Gulf of Thailand in 45 metres of water, approximately 75 kilometres from shore and 230 kilometres south of Bangkok. The well surface location is approximately 1.5 kilometres north east of the Manora-1, 2 & 3 surface location. The well was directionally drilled to a bottom hole location beyond Tap’s current field limits at a measured depth (MD) of 3,475 metres and a true vertical depth (TVD) of 3,047 metres.

Progress

During the week from the last report to 7:00 am WST, 27 October the well was drilled in 6” hole from 2,713 to 3,475 metres to investigate a deeper section previously undrilled in this area. Wireline logging was completed and while the deeper section provided data useful for regional control, no intervals of interest were encountered.

Forward Plan

Plugging and abandonment operations are underway and are expected to be completed and the rig released on Friday 5 November. This will therefore be the last planned announcement for the Manora-4 well.

Comment

Tap’s Managing Director and CEO, Peter Stickland said: “Manora-4 confirmed Tap’s understanding of the reservoir and trap in the Manora Field and also provided important information for the Manora Field development plan.”

“The results were in line with Tap’s pre-drill expectations and hence the failure to encounter oil in Manora-4 will have little impact on Tap’s current estimate of 24 million barrels,” Mr Stickland said.

“It is pleasing that Manora-4 has been completed ahead of schedule, within budget and without incident,” he said.

Source: TapOil, November 3, 2010:

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