But MEO said the significance of these readings was yet to be understood.

“While these observations are encouraging, the company stresses that until the section drilling has been completed, testing undertaken, including analysis of the log data to confirm the development of a fracture system and permeability in the section, and hydrocarbons recovered, MEO is unable to confirm gas quality or that a recoverable resource is present in the Epenarra structure,” the company said in a statement to the market this morning.

MEO said the Top Darwin Formation was encountered 62m higher than prognosed, at a depth of 3062m.

Drilling has so far reached a depth of 3151m, where the rig was this morning tripping out to change a worn drill bit.

MEO expects to restart drilling later today in a 12¼-inch hole through Facies C of the Epenarra Darwin Formation to a section target depth of 3440m.

An extensive log suite, including borehole image logging will be recorded, following which the 9⅝-inch casing will be landed and cemented.

The well will then continue to drill an 8½-inch hole to the Elang-Plover Formation.