Tap Oil Still Keen to Sell Zola, Tallaganda Gas Asset

Tap Oil is still engaged in finding potential buyers for its Zola and Tallaganda gas discovery in offshore Carnarvorn Basin as to develop these into potential LNG project could take a long time, proactive Investors has reported citing company statement.

Tap is keen to monetize these assets and considers the Tallaganda discovery on WA-351-P as a complementary asset for a gas buyer. The company had earlier indicated that it had started preliminary steps to package its interests in the WA-49-R , WA-290 P and WA-351-P and to test the market for the sale of these asset.

It has now received the Operator's preliminary volumetric assessment of gas at the Tallaganda resource and is reviewing it, Proactive Investors said.

Its update to the market was after an Australian newspaper reported on a potential sale of some or all of Tap's interest in the Zola and Tallaganda gas field.