Petsec has refused to elaborate on its partner, its drilling targets or permit locations, saying its land position had not been finalised and could be usurped if disclosed.

Despite that, the company announced it had intersected two gas sand formations in the onshore Louisiana exploration well and would be completed for production.

Petsec said it would be several weeks before the commissioning operations were completed into a nearby transportation pipeline.

Petsec has a 17.5% interest. A second well was expected to reach target depth in late February.