Huinga encountered gross oil shows totalling hundreds of metres over several formations, with massive drilling fluid losses and yielding highly encouraging drill stem tests.

However when the well was completed, not a trace of oil flowed to surface, disappointing partner Australian Worldwide Exploration to such an extent it dropped the permit without attempting to farm it out.

Impress chief Doug Jendry said with AWE's exit, he had instructed the auditors to write off the value of PEP 38716. He said he was unsure of Impress' long term commitment to the permit.