Stuart said Pando-1 had extensive oil shows in the pre-Permian and Jurassic sections and estimates that Warrior-1 has oil discovery potential of 3.8 million barrels of oil in the Patchawarra and Pando Formations.
Stuart Petroleum also announced that Cooper Energy will now be entitled to 30 per cent interest (previously 25%) in PEL 93 upon completion of its work commitments.