The Perth-based company reported that its total output in the December quarter fell 11% to 330,475 barrels of oil equivalent as a result of compressions upgrades and maintenance at the Harriet joint venture and unplanned maintenance at the Woollybutt oil field.

At Woollybutt, liquids output was nearly 33% lower than in the September quarter at 59,471 barrels, while Harriet JV production dropped 18% to 75,479bbl.

However in the fourth quarter, Tap also kicked-off multiple gas sales contracts which saw its gas revenue soar 184% to $6.2 million.

Higher oil prices also saw Tap generate 17.3% more liquids revenue to $19.6 million.

Tap’s new chief executive Peter Stickland, who replaced Paul Underwood earlier this month, said the company was pleased with the result.

“Oil prices and gas sales are up significantly,” he said.

“Tap also progressed a number of high quality exploration opportunities, such as SC-41 in the Philippines and will have attractive prospects for its 2008 drilling program.”