The well is 57km south of Moomba and is adjacent to and on trend from the Harpoono oil discovery.

Stuart and Beach Petroleum have signed an agreement in which Beach will earn 33.3% interest in the Dunoon Block in return for contributing to the cost of Jezebeel-1.

The Dunoon Block covers the north-eastern end of the Dunoon Ridge which together with the Harpoono oil field contains a number of leads and prospects.

The Murta Formation, which produced oil on test in Harpoono-1, is the primary target in Jezabeel-1. McKinlay and Hutton are secondary targets. Stuart estimated that the well had a 50% chance of success in the Murta and a 25% chance of success in each of the secondary targets.

Jezabeel could have a potential P50 oil in place of 1.6 million barrels with recoverable oil on a P50 basis estimated at 500,000 barrels, according to Stuart.