According to GAOG, “PEL 106 appears to have good potential for commercial production.”

It said: “Drill stem testing of Paranta-1 indicated two gas zones and one zone of light oil, condensate and gas [and] an independent assessment of drill stem test charts indicated a flow rate of around 300 barrels a day of light oil/gas-condensate.”

“Full testing could occur after the Nutmeg-1 discovery undergoes extended production testing in May,” added the company.

According to GAOG Managing Director Ray Shaw, “The significance of the discovery was it confirmed the PEL 106 area was not only prospective for gas, as shown by the recent Nutmeg-1 well, but also for oil and condensate.”

Next on the itinerary – following the casing of Paranta-1 – will be the Goolwa-1 site. The drilling here will be funded by Beach Petroleum under the farmin commitment it made to GAOG in its PEL 107 area. Goolwa-1 is due for spudding on 8 April.