Showing posts with label Tap Oil gives stores overhaul. Show all posts
Showing posts with label Tap Oil gives stores overhaul. Show all posts

Wednesday, July 8, 2015

Tap Oil gives stores overhaul

Tap Oil gives stores overhaul

Wednesday, Jul 08, 2015

Tap Oil Restricted (ASX:TAP) gives the accompanying upgrade on the estimation of Manora holds and assets as at 31 May 2015 embraced via Netherland, Sewell & Partners, Inc. (NSAI), an autonomous stores specialist.

NSAI stores appraises as at 31 May 2015

Under the Acquiring Base Obligation Office, a free give an account of Manora stores assessments is needed by Tap's banks taking after consummation of development of the Manora oil improvement and beginning of generation and deals. NSAI has now finished this report as at 31 May 2015, and it was gathered utilizing the aftereffects of the considerable number of wells penetrated to date for the Manora Oil Improvement. The NSAI assessment incorporates a prerequisite for two extra advancement wells in the east blame piece and their generation and CAPEX profiles expect this happens in 2016. The NSAI report at 31 May 2015 expect waterflood recuperation process for the stores as of now submerged infusion.

Tap's stores appraises as at 31 December 2014

Tap has beforehand declared its gauge of staying gross Manora saves and assets as at 31 December 2014 (ASX discharge 23 April 2015). This evaluation joined all improvement well information up to 31 Walk 2015 and accept two extra advancement wells will be needed in the accompanying 18 to 24 month period.

NSAI stores and assets evaluates as at 31 December 2014

It ought to be noticed that the above NSAI report contrasts from the NSAI give an account of Manora 2P stores as at 31 December 2014 as declared by Tap on 25 June 2015 which was readied for the reasons of the yearly audit of stores by the Manora joint endeavor. In that report, NSAI assessed Manora 2P gross stores of 15.5 MMSTB (net to Tap 4.65 MMSTB) as at 31 December 2014. That report was ordered by NSAI on the premise of the penetrating consequences of the Manora wells to 31 December 2014, and did exclude the aftereffects of the wells bored amid Q1 2015. The stores in this report don't mirror the advantage of water infusion as no water infusion had happened right now nor was a positive weight reaction found in the creation wells. The appraisal additionally considers total generation to 31 December 2014 of 0.481 MMSTB (net to Tap 0.14 MMSTB).

For more data, please visit : http://www.tapoil.com.au

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