Stuart said it expected Worrior-3, to be drilled to a total depth of 1764 metres, would become the best Birkhead reservoir producer, after W-1 and W-2, 300 metres away.

“Based on a thickening of the Birkhead towards Pando-1 it is anticipated that reservoir development at Worrior-3 will be as good or better than Worrior-2,” said managing director Tino Guglielmo.

“If the Birkhead in Worrior -3 is structurally the highest in the field, [it] will become the primary producer for the [reservoir].”

Guglielmo said the proven volume of in-place oil within the Birkhead Formation was 3.6 million barrels, with production indicating a likely recovery of about 2 million barrels – 4 million greater than the current proven volume, he claimed.

“Worrior -3 will also accelerate production from the field in this environment of record oil prices,” he said.

Worrior-1 and –2 have collectively produced 900,000 barrels of oil from the mid-late Jurassic Birkhead Formation up to the end of July this year. These wells also showed 8.5 and 10 metres of oil pay respectively.

Worrior-3 is aimed at intersecting equal or greater columns of pay in the Birkhead, at a shallower depth, said Stuart. Production decline at the reservoir indicated an ultimate recoverable reserve up to 2 million barrels of oil, claimed the company.

The well is aimed at delineating and developing the northern edge of the Worrior Oil Field and if successful will accelerate oil production to take advantage of currently high oil prices, said joint partner Cooper Energy.

The well is also expected to intersect a 10-metre oil column in the McKinlay Member pool as a secondary target, which has an estimated ultimate recoverable oil reserve of 1.7 million barrels.

Worrior-3 will also evaluate the gas reservoir thickness and quality in the Patchawarra Formation, in which W-1 flowed more than 6 million cubic feet per day, said Stuart.

Participants in PEL 93 are: Stuart Petroleum (operator 70%) and Cooper Energy (30%).