Adelaide-headquartered Stuart Petroleum told the Australian Stock Exchange this morning that Rimfire-1, in PEL 113, had been cased and suspended as a future Murta formation oil producer.

The third drill stem test, over the interval 1189-1192m in the basal Murta formation, did not recover any formation fluids.

But last week, the second DST, run over the interval 1153-1167.5m in the Murta Formation, had recovered 7.5 barrels of oil in the pipe, which equated to a flow rate of about 45 bbl of oil per day (bopd).

The well, which spudded on June 14, had reached a total depth of 1509m, said managing director Tino Guglielmo.

The Rimfire drill target was developed from a 3D seismic survey conducted last year. This seismic program was largely responsible for the delineation of the successful Harpoono-2 development well, which flowed at an initial rate of 1080 bopd during testing.

Interest holders in Rimfire are operator Stuart Petroleum (66.7%) and Beach Petroleum (33.3%).