Cheetah re-entered Kuru-2, located on its Petroleum Prospect License 246 in the Southern Highlands province of PNG, on May 7.

"We are extremely pleased with the initial results from our re-entry program. The successful perforation testing at this early stage is very encouraging and we look forward to further delineating this target," Cheetah president and CEO Garth Braun said.

Re-completion of the well involved drilling out the existing cement plugs, after which perforating guns were employed to evaluate oil and gas potential.

The company perforated the first 10 feet of the upper Darai limestone formation, where gas blew and pressure increased in the well with gas flowing from one of the potential reservoirs in the upper Darai limestone.

Further perforation testing over the next month is planned to determine the scope of the reservoir.