Tap Oil Limited (ASX: TAP) is pleased to announce an oil discovery at Malida-1. Following  the completion of wireline logging operations, 9.5 metres of net oil pay has been interpreted in reservoir quality sandstone within the primary target between 2,396 to 2,412 metres measured depth for the well. This interpretation is supported by the recovery of several oil samples taken on wireline testing over this interval.

The confirmation of an oil discovery at Malida-1 enhances the exploration potential of a fairway between the Manora oil field and the new Malida-1 oil discovery for further drilling. A number of leads and prospects are recognised in this area on 3D seismic data. Subject to further successful drilling to aggregate additional resource volumes, there is potential to tiediscoveries back to the Manora facility.

The Joint Venture has agreed to plug and abandon Malida-1 and conduct a sidetrack well, Malida-1 ST1(A), in order to test a separate structure adjacent to the structure tested by Malida-1. If successful, these volumes will form part of the aggregation strategy.

Location/Proposed Depth

The Malida-1 exploration well is located in the G1/48 concession in the Gulf of Thailand  approximately 5 kilometres northeast of the Manora oil development. Mubadala Petroleum is the operator of G1/48.

Progress

Malida-1 spudded on 15 November 2013. During the period 0600 hours WST on 25  November 2013 to 0600 hours WST on 2 December 2013, the well was drilled to a final total depth of 3,115 metres measured depth. A comprehensive wireline logging program was undertaken in the well, including wireline pressure testing and sampling.

The Malida-1 well was plugged and abandoned and the sidetrack well, Malida-1 ST1(A),  commenced. During the period, Malida-1 ST1(A) was drilled to a depth of 620 metres measured depth.