Zola-1 Well Drilling Update
Tap Oil Limited (ASX Code: TAP) provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
Location / Proposed Depth
The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon Basin, Western Australia. The well is being drilled in 285 metres of water and the primary Mungaroo Formation target will be intersected at approximately 4,300 metres below sea level. Further secondary targets will see the well drilled to a target depth of 5,000 metres.
Progress
During the period from 06:00 hours WST on 09 February 2011 to 06:00 hours WST on 16 February 2011, the well drilled out from the last string of intermediate casing previously set at 4,092 metres and drilled ahead in 216mm (8½”) hole to a depth of 4,160 metres. The well is currently drilling ahead.
Forward Plan
The well will be drilled ahead in 216mm (8½”) hole, through the first (Top Mungaroo) target to the intermediate logging point at approximately 4,480m MDRT.
Upon reaching the final well TD and evaluating, the well will be plugged and abandoned in the normal course of offshore operations.
Background
The Zola prospect is a very large Triassic tilted fault block on trend with the giant Gorgon gas field. One of the largest undrilled structural features in the Carnarvon Basin, Zola is covered by high quality newly reprocessed 3D seismic data and is considered a moderate risk prospect. Zola is estimated by Tap to contain mean recoverable gas volumes of 1.0 trillion cubic feet with upside potential for 2.0 trillion cubic feet. The well will test the gas potential of several top and intra Mungaroo Formation sands – the primary reservoir at Gorgon. In addition it is possible that some Jurassic reservoirs may be developed flanking the main Triassic structure.
Previous drilling in WA-290-P focused on the shallower Jurassic and Cretaceous interval, resulting in the Antiope gas discovery in 2000 and the minor Lauda oil discovery in 2005.
Located close to existing and developing gas infrastructure, Zola would have multiple potential development options should it be a discovery. Any development at Zola could also encompass the overlying Antiope gas discovery (estimated at ~120 Bcf).
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