In the last 24 hours, operator Beach Petroleum drilled the well in a 12 ¼-inch hole to a depth of 703 metres and ran 9⅝-inch casing. Then it drilled a 8½-inch hole from 703 metres to 1346 metres.
The production test will be run across the interval 1342-1346 metres.
Covering five square kilometres, the Callawonga prospect has 23m of structural relief and contains estimated P50 recoverable reserves of 1 million barrels of oil in the Namur Sandstone and 700,000bbl of oil in the Hutton Sandstone.
Cooper said the prospect has a low risk (32% probability of success), with hydrocarbon charge being the key risk element. Each of the other risk elements (trap effectiveness, reservoir presence and seal) is considered low risk, the company said.
Beach holds a 75% stake in the PEL 92 joint venture, while Cooper Energy owns the remaining 25%.
