Tap Oil Announces Craigow-1 Well Drilling Update

Tap Oil Limited provides the following update on the Craigow-1 exploration well, offshore Bass Basin between Victoria and Tasmania.
Location / Proposed Depth
The Craigow-1 well is located in permit T/47P in the offshore Bass Basin between Victoria and Tasmania.  The well is being drilled in 75 metres of water and the primary near Top Aroo Formation target will be intersected at approximately 1,480 metres below sea level. The planned depth of the well is approximately 1,826 metres.
Progress
During the period from 03:00 hrs (EST) on 24 December 2010 to 06:00 hours (EST) on 29 December, 914mm (36”) hole was drilled to 159 metres and casing run and cemented. The well was then drilled in 445mm (17 ½”) hole to a depth of 745 metres and casing was run and cemented. At 06:00 hours (EST) the rig was preparing to drill ahead in 311mm (12 ¼”) hole.
Forward Plan
The well will be drilled to the planned target depth of approximately 1,826 metres in 311mm (12 ¼”) hole.
Craigow-1 is planned to take approximately 19 days in total. Upon completion of evaluation the well will be plugged and abandoned in the normal course of offshore operations.
Source: Press release