Tap looks good

IN its fourth quarter report, Tap Oil has announced a 30 per cent increase in liquids production and an 11 per cent increase in gas sales from the previous quarter.

Planning to drill 10 more wells before the end of 2001, Tap’s production and operating expenditure more than doubled from the third quarter, partly from maintenance costs in anticipation of even further production.

Tap has predicted increased production from the Simpson, South Plato and Gibson fields and possibly the Harriet oil field.

Tap’s total capital and production expenditure for this last quarter was down 49 per cent, however, the lowest for the 2000-2001 financial year.