Shares in Cooper doubled during the week while Stuart stocks climbed 30 cents following consecutive oil strikes at the well, while further drilling on Thursday produced a gas flow of 7.3 million cubic feet from DST #4.

Tuesday's 6m column in the Hutton Sandstone is flowing at 2,880bopd and follows Monday's 14m interval higher in the well, which flowed at a rate of 1,600bopd.

Cooper chairman Greg Hancock said the DST#4 gas flow was tantalising, more for what might be underneath than for the actual flow, and that at this stage it was still too early for an estimate of reserves.

The success of the well so far means that although still six months shy of its second anniversary since listing Cooper Energy is now on the verge of the largest discovery in the region since the first oil strike in Moomba in 1997. Meanwhile Stuart Petroleum has confirmed its position as one of the top dogs in South Australian exploration.

The well is currently at 1719m with total depth planned for 1830m. Following completion of DST-4 the well will be drilled ahead to its projected total depth and wireline logs necessary for the full evaluation of the well and test results will be conducted.

Interests in the venture are Stuart Petroleum (operator) 70% and Cooper Energy 30%.