The use of a sprocket driven carrier tape provides a unique solution for Ultra High Throughput Screening. 10-microliter wells in the 384 well pattern are embossed in a polypropylene or polycarbonate carrier tape. For compound handling, 100,000 compounds in 5 microliter aliquots may be stored, sealed and frozen in a roll 16 inches in diameter and 4 inches wide. The sprocket drive provides recall to any given compound. At time of use, the peelable seal is removed for access to the compound aliquots. Two levels of assay automation are provided. In Phase I the compound MicroTape is used to support assays in the standard 384 well plate format. In Phase II the compounds are transferred directly to the assay MicroTape for Ultra High Throughput Screening at the rate of 100,000 per day.