Its arrival in WA-208P follows a three-well drilling program in the Perth Basin for a joint venture led by Roc Oil.
The drilling of Hurricane-2 is expected to start on Monday and take 20 days to reach total depth.
A large fan play, the Hurricane prospect is estimated to contain 40-50 million barrels of recoverable oil.
The well is a follow-up to the Hurricane-1 gas discovery, which in 2005 intersected a 76m gross gas column on rock with no gas-water or gas-oil contact identified.
Supporting pressure and gas/condensate compositional data indicate the likelihood of there being an underlying oil leg, according to Mosaic.
After Hurricane-2, the Premium Wilcraft rig will move further north to the Bonaparte Gulf, where it will drill the Marina-1 well for Drillsearch Energy and Esso Australia in mid-September.
