The Labatt survey was designed to mature leads not far from the Cormorant-1 well, which encountered oil in 1970, into drillable prospects.
Several leads have already been identified from existing 2D seismic data in this area, about 45 km northwest of the Yolla oil and gas field in the adjoining permit.
Final seismic volumes from the survey will be available for interpretation/analysis in the second quarter of 2008 and a rig has already been secured for two wells to be drilled on the defined prospects early in 2009.
The T/47P permit was awarded to Tap and its two partners SPC Production Company and Jubilant Energy in March last year.
