Tap signs on for Thai well

WITH its financial situation looking more stable, Tap Oil has signed up to participate in the Sri Trang-1 exploration well in the Gulf of Thailand, where it hopes to find more oil to improve the economics of its Manora oil field.

Sri Trang-1 is expected to be a quick, cheap well costing Tap a mere $US1.02 million ($A1.34 million), which will be offset against the $3.