The hole has been swabbed since the target zone was perforated.

“After several swabbing runs, the rate of fluid influx had increased to the equivalent of 264 barrels per day and the last two samples had traces of oil, indicating that the reservoir fluid may be about to ‘break through’,” said a company announcement.

It said the initial fluid influx into the well after perforation was equivalent to 228 barrels per day of muddy water probably resulting from drilling operations.

Enterprise said the well will be equipped with a beam pump and would be reporting as the flow stabilised.

Enterprise Energy and Brisbane Petroleum each have a 50% interest in the well.