West Perth-based Tap Oil Ltd has reached an agreement with its insurers to receive a payment of approximately $4.7 million in relation to the loss of production resulting from the Varanus Island incident.
West Perth-based Tap Oil Ltd has forecast a significant impact on its bottom line following disruptions at its Woollybutt oil field which kept it offline for most of the year.
Italian-owned ENI Australia Ltd shut down production at its Woollybutt joint venture with Tap Oil Ltd and Mobil after a safety incident forced the evacuation of personnel.
Tap Oil has been forced to temporarily suspend production at its Woollybutt Field after problems with emergency shut down equipment aboard the Four Vanguard Floating Production Storage and Offloading vessel were discovered.
Tap Oil Ltd has signed its third gas sales contract in the past two months, lifting its total revenue from the new agreements to $243 million over the coming decade.
West Perth-based Tap Oil Ltd has entered into a gas sales agreement with a Western Australian customer for over five years, which it expects will generate $135 million in revenue.
West Perth-based Tap Oil Ltd has signed a deal worth $12 million with a Western Australian customer for gas sales over a 9 month period ending 30 June 2008, the company has announced.
West Perth-based oil and gas company Tap Oil Ltd chief executive Paul Underwood will step down in January next year, to be replaced by the company's exploration manager, Peter Strickland, the company announced today.
Since announcing their on market buy back of up to 10 million shares in May this year, West Perth-based oil and gas production and exploration company Tap Oil Ltd has bought almost 600,000, at a cost of just over $1 million.
Shares in West Perth-based oil and gas producer and explorer Tap Oil Ltd have surged almost 6 per cent after it announced an on market share buy back of up to 10 million shares to enhance returns to shareholders.
Western Australian oil and gas player Tap Oil Ltd has recorded revenues of $19.7 million for the March quarter, with record high oil prices offsetting lower sales volumes.
Tap Oil Ltd 07-Sep-05 West LB Asset Management (Australia) Pty Ltd became a substantial shareholder with a relevant interest of 7,941,458 ordinary shares (5.04%).
An agreement has been reached with OMV Australia Pty Ltd for Tap to farmin to three exploration permits which surround Tap's production licence over the Woollybutt Oil Field.
WHILE much of the talk surrounding Tap Oil's attempt to merge with Arc Energy centres on the companies' potential future, merged or otherwise, some of the history behind the bid is just as interesting.
