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The well is a follow-up to the Murta Formation oil discovery made by Padulla-2 last year.
Stuart said the Padulla/Dalray structure has the potential to host 3.14 million barrels of oil in-place.
The Padulla 3, 4 and 7 wells will each appraise and develop the extent and quality of the Murta oil reservoir found in Padulla-2, the Adelaide-based company said.
Once these three wells are drilled, the rig will then move to drill the Dalray-1 exploration well in PEL 93 to evaluate the oil potential of a separate culmination in the McKinlay Formation.
Spudded last October, Padulla-2 was drilled 100m south-west of the exploration well to test minor oil shows reported in the Murta Formation.
A test of the Murta in Padulla-2 recovered 21 bbls of oil with no water, while analysis of oil shows in the Cadna-owie Formation proved the reservoir was tight. A further test of oil shows in the McKinlay proved the reservoir was wet, Stuart said.
If the Padulla/Dalray program is successful, a 3D seismic survey will be shot over the Dirkala Ridge from Dalray to the Wancoocha oil field, managing director Tino Guglielmo said.
“The Padulla wells will probably have the Murta fracture stimulated to increase production rates,” he said.
“It is expected that on pump, reservoirs such as that discovered in Padulla-2 will flow oil at 100 to 150 barrels per day.”
