Smegsy-1 will target potential gas reserves ranging from 7 to 40bcf, testing sandstone reservoirs within the Patchawarra and Tirrawarra Formations. Smegsy-1 is the first well to be drilled by Enterprise following its listing on the Australian Stock Exchange in May this year.

Enterprise will earn 25% interest, subject to a commercial discovery being made, in the Smegsy Block by participating in this well. This block is within PEL-106 where Great Artesian Oil and Gas Limited has already drilled the Nutmeg and Paranta discoveries.

The second well, Yellowbank Creek-4, is a development well to be drilled in the

Yellowbank Creek oilfield. Enterprise said studies indicate that the field, located within the Surat Basin, could contain remaining reserves of 5.2mmbo.

Nulla Nulla-1 in ATP 549P (West) in the Queensland portion of the Cooper Basin will be the third well in this program with a reservoir potential of 28.5 million barrels of oil.