On late January Tap Oil Limited announced its gross volumetric recoverable gas resource estimate for the WA-351-P portion of the Tallaganda structure. Tap’s studies indicate approximately 500 Bcf (Billion Cubic Feet) of gas in the WA-351-P portion of the Tallaganda structure

A 222 Bcf of P50 contingent resource (50% confidence level of recovery) and 278 Bcf of P50 prospective resource is also included.

Tallaganda-1 was drilled in the second quarter of 2012 and confirmed a gas discovery in the Triassic Mungaroo Formation of the Tallaganda structure within WA-351-P. The structure straddles the adjacent WA-335-P permit to the south. Both WA-351-P and WA-335-P are operated by BHP Billiton Petroleum Pty Ltd.

A comprehensive suite of wire line logs, including formation image logs, a wire line pressure survey and formation fluid sampling program were acquired in the well. The southern portion of the Tallaganda structure that extends into WA-335-P has not yet been drilled.

The geological assessment of the Tallaganda discovery and remaining block potential is continuing and there are currently no plans for further drilling in WA-351-P during 2013.

According to Tap’s Managing Director/CEO, Troy Hayden there are a number of other prospects on-block within the Triassic Mungaroo Formation that could be considered for further drilling to aggregate additional gas volumes. Additional leads and prospects have also been identified in the Jurassic and Early Cretaceous section.

BHP Billiton and Apache Corp hold a 55 percent and a 25 percent stake in WA-351-P respectively.

Sources: RIGZONE, Tap Oil