The Mutineer-13 appraisal well was plugged and abandoned after the primary objective was intersected low to prognosis and found to be water saturated at this location.
The well was drilled about 1.8km west-south-west of Mutineer-3, in an attempt to test a possible extension of the field.
With drilling completed, the Songa Mercur drilling rig will move to work-over the Mutineer-Exeter production result.
Further drilling around the Mutineer-Exeter fields is planned for the second quarter of 2008, with several appraisal and near-field exploration wells under consideration.
Santos said the Mutineer-13 result would not impact its proven and probable (2P) oil reserves for the two fields, but would remove some of the possible (3P) reserve and production upside attributed to this well location.