The Perth-based listed explorer yesterday outlined a significant exploration program to the first quarter of 2004, not only for its extensive Western Australian acreage, but also for its recently-increased New Zealand interests.

A year ago Tap Oil acquired major stakes in three small onshore Taranaki permits from Canadian-incorporated company Indo-Pacific Energy. Although they subsequently relinquished one of those licences, Tap and Indo-Pacific successfully bid for, and were awarded, three new onshore blocks earlier this year.

Tap's announced program is the first major exploration effort since that time, although both Tap and Indo-Pacific are involved in onshore licence PEP 38736 that contains the promising Kahili gas-condensate discovery and more development details for Kahili are expected to be announced later this month or in July.

Tap managing director Paul Underwood said 75 sqkm of 3D seismic had recently been successfully completed in one of the newly-acquired licences, PEP 38748.

The Bluff-1 well, targeting the shallow Miocene-aged Mount Messenger and deeper Eocene-aged Kapuni formations, was scheduled to be drilled later this year in PEP 38746, northeast of the commercial McKee and Mangahewa fields. The Waitorki-1 well is also scheduled to be drilled late this year, targeting the deeper Kapuni in licence PEP 38741, in between the Ngatoro and McKee field.

The third well to be drilled this year would be the Waiwiri-1 well, again targeting the shallow Mount Messenger plays, in licence PEP 38753 north-east of the Tariki, Ahuroa and Waihapa fields in central Taranaki.

Underwood said a further four or five wells were planned for onshore Taranaki in early 2004, but he did not elaborate on which formations would be targeted in which permits.

Tap holds stakes, of between 25-50%, in the Indo-Pacific operated licence of PEP 38736, 741, 746, 753 and 761.