The well is expected to take 12 days to reach a total depth of 1931m.

Callawonga-1 will test a robust anticlinal structure in the east of PEL 92. The primary objectives are the Namur Sandstone and the Hutton Sandstone, which are productive in the Christies oil field, about 7km south-southeast. The Poolowanna Formation is a secondary objective.

Covering five square kilometres, the Callawonga prospect has 23m of structural relief and contains estimated P50 recoverable reserves of 1 million barrels of oil in the Namur Sandstone and 700,000bbl of oil in the Hutton Sandstone.

Cooper said the prospect has a low risk (32% probability of success), with hydrocarbon charge being the key risk element. Each of the other risk elements (trap effectiveness, reservoir presence and seal) is considered low risk, the company said.

The PEL 92 joint venture comprises Beach as operator with a 75% stake and Cooper Energy (25%).