EXPLORATION

North Pedirka-1 discovery confirmed

The joint venture participants have confirmed the North Pedirka-1 well, located in TL/7 8km south...

Pressure testing and analysis confirmed the presence of an 8m gross (6.1m net) oil column at the top of the Flag sandstone. The well is being completed as an oil producer from the Victoria Platform.

The discovery is the third success out of four wells drilled in the program with Gipsy-3 and Ginger -1 also with oil and gas shows. Felicia-1 has been the only well in the program to be plugged and abandoned.

This well is expected to be in production by mid September 2003. On completion of tie-in operations the Ensco-56 rig will continue drilling the development well Hoover-2 which should reach target depth within the week.

Harriet Joint Venture participants include Tap Oil 12.2229%, Apache Energy (operator) 68.5% and Kufpec Australia 19.2771%.

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