With dual oil and gas targets, Harry-1 will be Stuart’s first designated gas exploration well. It is estimated to contain upside unrisked (P10) potential of 17.8 BCF of in-place gas and 8 million barrels of oil in the primary objectives.

Over the next 12 months at least 11 exploration wells will be drilled in this program, said managing director Tino Guglielmo.

But if Harry-1 proved successful it would confirm a new oil play and two more follow-up wells would be added to the program, he said.

“This prospect is one of many in the Cooper Basin awaiting detailed examination and we look forward to a positive outcome which will significantly enhance the prospectivity of similar plays in PEL 90 and PEL 102,” Guglielmo said.

“The Cooper Basin is a great place to be exploring as that success can, through utilisation of existing infrastructure be converted into cashflow quickly.”

Harry-1 will be drilled on the southern end of a large multi-faulted anticlinal area to a planned total depth of 3100 metres. If successful, it will confirm the oil and natural fracture gas plays on the complex, according to Stuart.

The well is to be drilled vertically to intersect the Eromanga/Upper Cooper Basins reservoirs, before being deviated to intersect the Permian reservoirs at about 25 degrees. The deviated well will penetrate a Permian fault, test for footwall fracturing below the fault plane and minimise well-bore breakout.

Primary gas targets include the Epsilon and Patchawarra formations. Stuart said excellent gas flows were recorded from Patchawarra 35-45km west of Harry-1 in the Verona and Cuttapirrie gas fields. Secondary targets will be on the Callamurra, Toolachee and Tirrawarra formations.

The well's two primary oil targets are in the Poolowanna and Tinchoo.