One of the partners in the JV, Tap Oil, told the market that the Endymion-1 well hit a net 14m gas column about 2.4km south of the existing Sinbad production platform in TL/1.

Current operations comprise running casing and completion prior to bringing the well into line as new gas producer.

"Endymion discovery is separate to the adjacent Sinbad Gas Field and reserves should be in the upper end of expectations," said Tap Oil, which has 12.22% stake in the JV.

Tap said 10 exploration and appraisals wells have been drilled so far this year with an 80% success rate. It puts this high rate of commercial success to 3D seismic and the good work of operator, Apache Energy, which has 68.5% stake in the JV. The other partner is Kufpec Australia.

Staying with Tap, the company said its second Woollybutt production well has been successfully flow tested and completed as a production well.

The Woollybutt-1ST1 sidetrack well flowed at a rate of 9,800 barrels of oil per day (bopd) over a two hour period through a 54/64" choke.

Tap said the Woollybutt Oil Field will be produced from the recently completed Woollybutt-1ST1 and Woollybutt-2AST3 development wells.

The Perth-based company added construction of the production facilities are proceeding as planned with first oil anticipated during the first quarter of 2003.

Other participants in the Woollybutt development are AGIP Australia and Mobil Australian Resources.