Waitpinga-1 is designed to test the oil potential of the Permian Patchawarra Formation, Early Jurassic Hutton Sandstone and Early Cretaceous Namur Sandstone at a location some 90km south of Moomba.

Joint Venture participants in the well are Magellan Petroleum 50% and Beach Petroleum 50%(operator).

The next scheduled well in the program is Seacliff-1, (located in PEL 95), which is designed to target the oil potential of the Early Cretaceous Murta Formation and Namur Sandstone at a location some 30km to the south west of Magellan's Aldinga discovery, which continues producing oil on production test at about 50bopd.

Magellan had a disappointing result from the Semaphore-1 well with Cooper Energy but has planned an aggressive program over the summer in both the Eromanga and Cooper Basin's with venture partners such as Santos, Cooper and Beach.

Along with Santos the company has also achieved success at the Thungo-8 well which has been cased and suspended as a future Murta oil producer.

Located in PL 51 in Queensland's Eromanga Basin Thungo 8 was designed to access un-drained oil in the northeastern portion of the Thungo field. The primary target of the well is the Murta Formation, which is the productive reservoir in the field.

Thungo-8 will be followed by Callisto 1 exploration well located in the northern portion of ATP 267 P and will target both Jurassic oil and Permian gas potential.