Joint venture partner Magellan Petroleum said this morning the decision was made to abandon the Patron-1 well, in PEL 93, after drilling reached total depth without encountering commercial hydrocarbons.

Farminee partner Red Sky Energy has flown an airborne geochemical survey over PEL 93, which had produced micro-seepage anomalies over the Patron prospect.

It was the second well after the Rainbird-1 well, which also failed to encounter significant hydrocarbons, to test this method in the Cooper Basin.

Magellan said Stuart, as operator, undertook a drill stem test over the Patron-1 well at a depth of 1242-1258m to test an oil show encountered while drilling in the Murta Formation. The test recovered just 1.5 barrels of mud and 6.2 barrels of muddy water.

On reaching total depth, wireline logs indicated no commercial hydrocarbons were present in the objective Eromanga or Cooper basin sections.

Under the PEL 93 farm-in deal, 12 wells will be drilled in the permit over the next three years.

Farminees Red Sky Energy and Magellan have each agreed to pay 49% of the well costs, in return for a 24.5% stake in any commercial discovery.

Stuart as operator will have a 36% stake, while Cooper Energy has the remaining 15%.