The company did not reveal how big the show was in its statement to the ASX, but managing director Tino Guglielmo has previously said that reservoir quality was the main risk in Padulla-2, with trap geometry already established and hydrocarbons present.
It added that a poor show in the Cadna-owie Formation would be evaluated after wireline logs were run.
Padulla-2 is targeting 3.38 million barrels of in-place oil in the Murta formation and 1.6 million barrels in the McKinlay Member.
At 9am (EST) today, Padulla-2 was drilling ahead at 1145 metres, with a planned total depth of 1511 metres.
Stuart Petroleum holds a 100% interest in PEL 113.
The well is about 300 metres from Padulla-1, which failed to encounter any commercial hydrocarbons in 1986. But Stuart said results from this well indicated oil has migrated into the Murta Formation area, with oil flows expected from thin, high permeability sands.
Padulla-2’s secondary target, the Cadna-owie Formation, had oil shows in Padulla-1, but the reservoir quality was considered poor, said the company. Stuart added that production from this formation in the SA area of the Eromanga Basin was "very limited.
