The company said on Friday it decided to plug the well after wireline logs confirmed no oil and gas was present in the primary and secondary sandstones.
The well was testing a seismically defined prospect with the potential to contain a mean recoverable resource of 9 billion cubic feet of gas or 6.1 million barrels of oil, up to a P10 of 19Bcf of gas or 1MMbbl of oil in the High Cliff Sandstone.
The High Cliff Sandstone is oil productive in the offshore Cliff Head oil field, some 16km northwest of the Freshwater Point Prospect.
Freshwater Point-1 is 34.5km south-southeast of the township of Dongara, 25km south of the Jingemia oil plant and 17.5km southwest of the Beharra Springs gas plant.
Participants in EP 413 are operator Origin Energy Developments (49.189%), Arc Energy (44.14%), Victoria Petroleum NL (5%), Norwest Energy NL (1.78%), Roc Oil (0.25%), and J.K Geary (0.142%).
