It will test a well-defined structure with assessed potential mean recoverable reserves of 1 million barrels of oil. The structure lies at the head of a prominent north-south structural nose that is interpreted to provide a focus for oil migration into the trap.

The well's primary target, the Namur Sandstone, is expected to be intersected on or about August 28. The well will take approximately 7 days to reach the planned total depth of 1600 metres.

The first well, Sellicks-1, may contain up to 1.5 million barrels of recoverable oil while Maslins-1 encountered live, but non-commercial, oil.

Beach said the results indicated that although a commercial accumulation was not present at the Maslins-1 location, there was an active petroleum system in the area and it was possible that commercial oil was present elsewhere in the greater Maslins structure.

Magellen Petroleum also has a 50% stake in the well.