Tab Oil:ZOLA-1 WELL DRILLING UPDATE

Tap Oil Limited (ASX Code: TAP) provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
Location / Proposed Depth
The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon Basin, Western Australia. The well is being drilled in 285 metres of water and the primary Mungaroo Formation target will be intersected at approximately 4,300 metres below sea level.  Further secondary targets will see the well drilled to a target depth of 5,000 metres.
Progress
During the period from 0600 hours WST on 8 December 2010 and 0600 hours WST on 15 December, 508 mm (20”) surface casing was run and cemented at 1,696 metres (MD), a blow-out preventer (BOP) was installed and tested, and the well was drilled from 1,701 metres (MD) to 3,425 metres (MD).  Current hole size is 406 mm (16”).
Forward Plan
The well will be drilled ahead in 406mm (16”) hole to the intermediate casing point at 3,500 metres (MD). After intermediate casing is run and cemented, drilling will recommence.
Zola-1 is planned to take approximately 40-50 days from spud to reach a final total depth of approximately 5,000 metres. Upon completion of evaluation the well will be plugged and abandoned in the normal course of offshore operations.
Source: Tap Oil