Tap Oil

Tap Oil’s share price took a bath last week, falling 10% the day joint venture partner BHP Billiton announced a gas discovery in the hotly anticipated Tallaganda well. Early indications suggest that, although gas is present, the reservoir may not produce commercial rates of flow. The Carnarvon Basin is notorious for reservoir complexity; rocks beneath the surface twist and deform to create complex structures that can affect flow rates crucial to commercial production. Tap and BHP have punched a hole 4km through the surface of the earth. Crowning it with production and processing hardware could cost up to $100m, an...

Tap Oil’s share price took a bath last week, falling 10% the day joint venture partner BHP Billiton announced a gas discovery in the hotly anticipated Tallaganda well. Early indications suggest that, although gas is present, the reservoir may not produce commercial rates of flow.

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