The operator, Roc Oil, said engineering and sub surface studies have upgraded the estimated amount of oil-in-place to 110 million barrels compared to the previously reported range of 80 to 100 million barrels.

One of Roc's joint venture partners, Australian Worldwide Exploration, has even suggested reserves in place could be as high as 140 million barrels.

With the adjacent Jingemia well will shaping up to be an oil discovery and Apache Energy farming into a big area north of Cliff Head, millions of dollars are expected to be pumped into the Perth Basin area over the next 12 months.