As a result, Texon as operator intends to evaluate two shallower potential gas-bearing sands, with a combined thickness of 50 feet (15.2m).

Texon has released the rig and intends to bring in a smaller rig in the new year to either complete these sand pays, or plug and abandon the well.

The company added it has received results from the seismogram survey run at the last logging point of 11,000 feet (3353m).

"The seismogram tying the well to the 3D seismic suggested the top of the Upper Wilcox to be shallower than originally prognosticated and the prospective section condensed within structure," the company said.

"Drilling was halted at 12,500 feet to run electric logs from last logging point to this depth.

"These logs identified thin gas bearing sands in the objective Wilcox in structural closure that were not of sufficient quantity to warrant testing and confirmed the final well depth of 12,500 feet was out of structural closure."

Texon is operator and has a 65% stake in the Bondi prospect, while farminee Empyrean Energy has 20% and Sun Resources has 15%.