OIL

Fletcher not finished: Tap

THE Fletcher-2 well may have clipped the southern edge of a north-trending oil fairway related to...

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The initially disappointing Fletcher appraisal well found a 12m gross (4m net) oil column. Fletcher-1 found an 8m column. In both cases, this was well down on a pre-drill prediction of 20-30m.

"The Fletcher wells have discovered a new oil trend in WA-191-P," Tap said.

"The resource in the immediate vicinity of the wells is expected to be small; however, the potential of the greater Fletcher trend could be significant.

"Further evaluation will now be required to determine the full potential of this prospective area."

The WA-191-P Joint Venture comprises: Santos 33.4% (operator), Kufpec Australia 33.4%, Nippon Oil Exploration 25% and Tap Oil 8.2%.

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