Subzero-1 is targeting estimated mean undiscovered oil reserves potential of 1.3
million barrels and has a target depth of 2360m.
The well's primary oil targets are the McKinlay Member of the Murta Formation and the Birkhead Formation, while the underlying Patchawarra and Epsilon Formations are secondary gas targets.
According to the company, the Santos-operated Cabernet gas field is 4km southwest of the well and has shown good quality Patchawarra gas reservoirs and oil shows in the McKinlay member.
Subzero-1 will be drilled by the Century Rig 3 and followed by the drilling of Brew-1.
Following Brew-1, Stuart will move offshore to drill the Bazzard structure in the Gippsland Basin permit Vic/P53.
Stuart owns a 65% interest in the well and Avery Resources Australia has the remaining 35%.
