JV partner Tap Oil has provided a drilling update on the Mubadala-operated Manora-6 exploration well in the G1/48 concession in the northern Gulf of Thailand (Tap 30% interest).

Mubadala Petroleum, Operator of the G1/48 Concession and the Manora oil field, has advised that drilling of the Manora-6 well reached total depth at 2,412 metres true vertical depth sub-sea ('TVDSS'). The well was targeting the L fault block prospect. Interpretation of the logging while drilling data indicates an oil column in the primary reservoir section of approx. 5.8 metres, below a depth of 2,229 metres TVDSS. This result was encouraging enough for the joint venture to proceed with a side-track to the well, Manora-6ST, to test the M prospect.

The Manora-6ST well was drilled to a depth of 2,387 metres TVDSS. Interpretation of the logging while drilling data shows approx. 5.8 metres of oil in three separate reservoir sandstones, below a depth of 2,214 metres TVDSS, each of which exhibited evidence of an oil water contact.

Tap is working with the Operator who continues to evaluate the results, and these will be incorporated into their understanding of the Manora field production contract area and its upside potential.

The Ensco 115 drilling rig has now moved off location.