The well was drilled to a total depth of 4864 metres and went through the target Intra Mungaroo Formation sandstone, but no indications of gas were found.

Final logs will now be run by operator Apache Northwest, which will earn a 40% interest in the permit if it funds 100% of well costs up to agreed caps.

After months of weather-related delays Apache started drilling the La Rocca prospect earlier this month as it continued its quest for more gas off Western Australia.

La Rocca-1 was spudded on May 1 with the Ocean Patriot semi-submersible. It is one of seven prospects identified in the permit, which lies north of Pluto, Wheatstone, Gorgon and the North West Shelf.

The seven prospects range in size from 0.3 trillion cubic feet to 2.8Tcf of prospective gas resource.

Seismic amplitude anomalies evident in 3D seismic data acquired in 2008 were thought to be likely direct hydrocarbon indicators, suggesting the presence of gas analogous to nearby fields and discoveries.

Oilex and Indian partners Bharat Petroleum, Hindustan Petroleum, Videocon Industries and Gujarat State Petroleum Corporation have reduced their stakes from 14% to 8.4% as a result of the farm-in agreement, while South African gas-to-liquids specialist Sasol Petroleum will reduce its stake from 30% to 18%.

Oilex shares are unchanged in early trade at 32.5c, after shedding 8.45% yesterday.