Tap said electric logs indicate that Cyrano-1 has intersected a 29 metre gross hydrocarbon column, including 19m gross gas column and a 10m gross light oil column.

"The successful result of this well is in line with the pre-drill prognosis. The data will now be reviewed and integrated to determine the quality of the reservoir and quantify the size of the resource," said Tap spokesperson, Michael Dagostino.

"Whilst this is a small discovery, it's potential to be commercially developed will be enhanced by its proximity to infrastructure at Airlie Island and the recently discovered Nasutus Oil Field some 4km to the northeast."

Norwest Energy NL, which has a 10% interest in the permit, elected not to participate in the drilling of this well.