Philippines

Tap Oil Ltd., Perth, relinquished the SC-41 exploration block in the Philippines Sulu Sea Sandakan basin out of inability to attract a partner to drill a well required under the next phase of the service contract.

Aug. 11, 2010

By OGJ editors
HOUSTON, Aug. 11 – Tap Oil Ltd., Perth, relinquished the SC-41 exploration block in the Philippines Sulu Sea Sandakan basin out of inability to attract a partner to drill a well required under the next phase of the service contract.

A well would have been required by May 2011. Tap Oil said it views the area as having some prospectivity and may pursue exploration there in the future with an appropriate work program to address the technical risks.

Tap continues the rest of its exploration program, including near-term drilling in Brunei and Australia’s Carnarvon and Bass basins.

Only about 25 wells have been drilled in the entire Sandakan basin (see map, OGJ, May 10, 1993, p. 43).