“A drill stem test of good oil shows over a Jurassic-aged Birkhead/Hutton interval at Marracoonda-2 recovered 5% oil in emulsion with 74 barrels of mud and water,” the Brisbane-based company said.

“Although minor oil saturations were indicated in two zones on the wireline logs, the potential accumulations are interpreted to be subcommercial or residual oil and the well is currently being prepared for plugging and abandoning.”

Bow said the drilling rig would now move to the Gamma-1 well in the same permit.

Gamma-1 is the second well of the three-well, back-to-back oil exploration drilling program in Wompi Block ATP 752P.

The well is expected to spud late this week or early next week and has the potential to contain 6.1 million barrels (MMbbl) of recoverable oil.

Bow said Gamma-1 is interpreted to be an updip test of Rho1, a well drilled by the previous operator, which had good oil shows in several zones.

It will then move to Nora-1, which tests a fourway closed structure with up to 6.5MMbbl of recoverable oil potential in one zone.

Following the drilling program in the Wompi Block, the next two planned wells in ATP 752P are in the Barta Block.

Bow said the Barta Block wells and final drilling locations are conditional on the results of the interpretation of recent 2D and 3D seismic programs in the Block.

“A preliminary interpretation of the new and reprocessed 2D seismic data indicates several commercial-size oil prospects are present in the block,” it said.

The company is fully-carried on the Cooper-Eromanga oil exploration drilling program, with Avery Resources (Australia) funding 100% of each Wompi block well’s cost to casing point or plug and abandonment.

The interests in Marracoonda-2 and ATP 752P (following the completion of the Avery farm-in) are operator Bow with 25%, Victoria Petroleum with 25% and Avery, which will hold 50%.