Yesterday, farm-in partner Entek Energy said Nudgee-1 was the third and last well it was partly funding in the permit in order to earn a working interest.

The junior company has already participated in two earlier wells, Coolum-1 and Byrock-2, both of which were discoveries.

Coolum-1 is currently on production, while Byrock-2 is due for the completion at the end of next month or early July after heavy rains delayed access for workover equipment.

Entek said the new play was “one of many” four-way dip closures confirmed by the Trocus 3D seismic survey, undertaken last year.

Interpretation of this data suggested the Gumla-1 exploration, which was drilled in 1988 and recovered 17 barrels of oil and five barrels of water, was drilled off-crest and that updip potential exists.

Nudgee-1 was designed to appraise this updip potential at both the mid-Birkhead and Hutton levels.

Structural mapping at the mid-Birkhead level, based on 3D seismic, indicates that the Nudgee prospect has about 20m of structural relief and covers an area of 2.2 square kilometres.

If Nudgee-1 is successful, Entek will earn 28.15% of the production from the well.

Once drilling here has finished, the rig will move to the second well in the program, Marcoola-1.

Participating interests in ATP-269P will be Beach Petroleum (operator with 46.95%), Entek (28.15%), Inland Oil Production (20%) and Gidgealpa Oil (4.9%).