Tap Oil announces Starfish-1 well commences in Ghana
Tap Oil Limited (ASX:TAP) is pleased to advise that at 0820 hours Perth time on 19 June 2013, the Stena DrillMAX, Dual Derrick Drillship commenced drilling the Starfish-1 oil exploration well in the Offshore Accra Contract Area, Ghana.
The well will target a large stratigraphic trap in the deep water of eastern Ghana, interpreted to be potentially comparable to the Jubilee oil field in western Ghana. Tap estimates that the well will target prospective resources potentiallyhalf a billion barrels, (431 mmbbls (P50)).
Tap’s Managing Director/CEO, Mr Troy Hayden said:
“The commencement of drilling of the Starfish-1 well in Ghana is very exciting for Tap. Although this a high risk well, it has the potential to be transformational to Tap in the event of a discovery.”
Location and Proposed Depth The Starfish prospect is located in the Offshore Accra Contract Area in offshore Ghana along the prolific offshore West African Margin.
The Starfish prospect was matured following reprocessing of the original 3D seismic data and the acquisition of the new 3D survey in 2011 over the outboard deep water area.
The Contract Area is now covered by quality 3D seismic data. In the event of a discovery at Starfish-1 confirming a significant petroleum system, there are a number of other leads and prospects identified on the block that would be of interest.
The Operator, Ophir Energy, continues to work on the existing lead and prospect inventory. The well will be drilled as a vertical well in a water depth of 1,500 metres and is expected to take 35 days (trouble free) to drill to a proposed total depth of 4,560 metres. Tap’s cost for the well is expected to be approximately A$11.6 million.
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