Bridgeport exploration manager Cameron Fink explained the junior has worked up a number of leads and prospects on 3D, defining a number of lookalike prospects to Kangaroo and the Spitfire and Growler fields.

It has proven that oil has migrated beyond the Permian zero edge into its permits, with each success made by Beach it says its risks are reduced, and it is an idea time to take advantage of lower drilling costs.

Bridgeport, which is owned by coal concern New Hope Corporation, has steadily built up production to around 1000bopd on Queensland since 2009 and it has designs on growing with the drillbit in South Australia where it has 12,000sq.km of tenements.

In the south-western Cooper Basin it has the granted PEL 930 and PELA 641.

The western half of PEL 630 sits on the same oil trend that is the focus of much of Beach's 10-well program this year, and the block sits near the Martlet and Charo-Snatcher fields, and is target rich with leads and prospects targeting the Namur and Birkhead plays, while PEL 630 East has Permian gas potential.

Bridgeport is looking for partners to drill two wells to test prospects defined on the 419sq.km Playford 3D surveys.

As Beach has proven, 3D is absolutely vital in unlocking the Eromanga Basin oil fields along the western flank of the Cooper Basin, beyond the Permian edge and to defining the more subtle pinch-out coal-encased gas plays.

"We are just bolting on to what Santos, Beach Energy and Senex Energy have done all around us since 2007, and they have used 3D seismic to increase the chance of success from 20% to 40%, and for wildcat exploration that is a reasonable number," Fink said.

He said concerns that PEL 630 West may be too far out for the oil to migrate could be assuaged by looking at the significant oil shows in nearby wells including Boomer-1 and Hoolendinnie-1 within the block and Ascender-1 just outside. There has even been some live oil to surface.

"We know the oil is getting out there, we just need to find it. And if we draw a line from Snatcher-Charo there is no reason to believe that isn't continuing in in a migration sense," Fink said.

With fields such Rincon and Butlers producing outboard of the Permian edge, Fink feels there is enough support to conclude that the Jurassic margin plays are within PEL 630.

"Ten years ago no one thought there was any oil out here, and we will just keep moving that line north and west as long as we can," he said.

Bridgeport has defined 18 prospects and leads with potential in the Namur and Birkhead.

Its two most advanced prospects are Skyline, which is primarily a Namur target, and Ragamuffin, which is a potentially massive Birkhead prospect with upside to 33.4 million barrels.

There is no reservoir risk with the Namur, which is regionally extensive, and it is hoping to find an analogue of Bauer, a "magic pudding" field that has kept growing since it was discovered, with Skyline.

After a contentious start to life that saw disagreements between Beach and Drillsearch, Bauer started life as a 12 million barrel field in is now more than double that.

A successful drill on Skyline, primarily targeting the Namur, would be a company maker for Bridgeport if it contains oil, but there is a need to drill a well to assess a potential 21.5MMbbl (P10) or 7.4MMbbl OIP (P50).

There is also secondary potential in the Murta, Hutton Sandstone and, in Skyline-1, the Poolawanna.

Work to date has defined the 7.8MMbbl OIP (P50) potential Ragamuffin which is on a good structural position in addition to the stratigraphic potential to the P10 upside and appears similar to the Mustang, Growler and Spitfire fields that are nearby.

Almost as large is the Moonline prospect to the west.

Fink believes the wells have a conservative one in three chance of success.

The upside could be 200MMbbl over 18 prospects in a 200sq.km area in the Namur play and 197MMbbl (P10) in the mid-Birkhead.

Bridgeport's Permian gas play is similar to fields such as Middleton, Brownlow and Canunda. While smaller 10-12 billion cubic feet targets, they are good cash earners, and as more infrastructure is built out gas will become worth exploring for.

Skyline-1 and Raggamuffin-1 are being pushed for drilling, and for $2.2 million per well could help unlock another well-endowed permit in the basin.

"These areas have big upside with a low upfront cost," Fink said.

The company is also seeking to farm out ATP 794 (Barcoo Junction) where it has defined the Obelix prospect near the former Bow Energy's Barcoo Junction oil shows.

The drill-ready Obelix has the potential for 9MMbbl OIP in the oil case or 9.58Bcf gas-in-place.