Operator Tap yesterday afternoon told the ASX that the intermediate logging program, done at a depth of 1172m, had proved inconclusive, though there was some evidence of the presence of hydrocarbons in thinly interbedded sand/shale sequences in the upper target intervals.

Better news seems to be deeper down, with Tap reporting elevated gas readings as the well approached its deepest target zone. The well had now been deepened to its planned total depth of around 1560m to investigate the deepest target horizon and a comprehensive wireline logging program was being carried out.

While logging and gas readings indicated the presence of hydrocarbons in some of the objective zones, reservoir quality remained to be established, along with the commercial significance of such indications. More comprehensive log data was being acquired and interpreted to facilitate a more conclusive assessment of the results. A further update would be provided by the end of the week.