Rimfire and Revenue will be tied in to the existing Harpoono facility over the next month. The wells will then be put on pump to further boost flow rates.

Managing director Tino Guglielmo said the Dunoon Ridge around the Harpoono, Rimfire and Revenue oil discoveries was shaping up to be an extremely productive core area for the company.

“A real boost is the highly productive oil pay found in the McKinlay Formation at Harpoono-2 and Revenue-1, which upgrades the prospectivity of the area significantly,” he said.

“The McKinlay discovery in Revenue-1 can be expected to deliver substantially higher oil flow rates than the Murta Formation alone.”

Within the Harpoono 3D seismic survey area, Stuart identified 12 drillable prospects – four in the northern area of the Dunoon Ridge and eight in the central and southern area. Stuart said additional drillable prospects were likely outside the seismic survey area to the west along the remainder of the ridge.

Meanwhile, Stuart said its exploration program was continuing with the drilling of Light Fingers 1 in PEL 113 to the southwest of Derrilyn and Toparoa.

But spudding of the well, which was scheduled for late this week, has now been delayed due to heavy rain, Stuart said in a separate ASX announcement.

Light Fingers-1 is now expected to spud next Tuesday, July 25.

The company will then participate in a further five wells – the Derrilyn-4 development well, scheduled to drill in August, followed in October by the Tawriffic East-1 exploration well in PEL 93, plus three Dunoon Ridge exploration wells.

Elsewhere in PEL 113, an early production test is ongoing at the Padulla-3 well. Stuart said plans were well advanced to fracture stimulate Padulla-2 and Padulla-3 to increase production rates.

Both wells will then be connected to the recently constructed modular production facility in conjunction with new artificial lift systems.