Perth-based Tap Oil yesterday told the ASX that Jane-1, which spudded on March 21, experienced casing difficulties after reaching a depth of 2499m.

As a result the joint venture planned to sidetrack the well as a re-drill to target the Jane prospect about 3.4km north of the Agincourt Platform. It was anticipated the well would take a further 8 days to reach TD.

Meanwhile, the Lauda-1 well, which spudded on March 23, was drilling ahead on schedule and was down over 2577m. It was expected to reach TD in the next few days. Lauda-1 is located in WA-290-P, being 70km west of Barrow Island and 27km west-northwest of the Woollybutt oil field.

Tap Oil has budgeted about A$40 million for exploration and appraisal work during 2005, targeting 50 million barrels in Western Australia’s Carnarvon Basin, which supplies 98% of its 6000 bopd production.

It plans to drill up to 31 wells in the Carnarvon, as well as four New Zealand wells, including three onshore Taranaki and one very large offshore Canterbury Basin well.

TL/6 (Jane-1) joint venture participants are: Apache Northwest Pty Ltd (operator) 68.5%, Kufpec Australia Pty Ltd 19.2771% and Tap Oil Limited 12.2229%.

WA-290-P (Lauda-1) joint venture participants are: OMV Barrow Pty Ltd (Operator) 50%, Tap (Shelfal) Pty Ltd 25% and Nippon Oil Exploration (Australia) Pty Ltd 25%.