The well was drilled by the Premium Wilcraft rig in WA-318-P in the Bonaparte Basin about 345km south-southwest of Darwin.

It was targeting up to 200-235 million barrels of oil in place in three potential reservoir intervals. But it intersected all three of its objective formations without finding anything more than traces of petroleum, according to Drillsearch.

“No hydrocarbon shows were recorded in the upper two objectives: the Hyland Bay and Keyling Formations,” the company said.

“Gas shows were recorded in the mud logs over at least five zones in lower stratigraphic intervals including the third objective - the Treachery and Kuriyippi Formations. Trace oil fluorescence was noted in the cuttings in some intervals.”

ExxonMobil will now conduct a formation evaluation program which will include wireline logging, pressure and fluid samples, side wall cores, and a checkshot (velocity) survey. It will then will plug and abandon the well as planned.

Drillsearch said it would evaluate the Marina-1 results as logging operations proceed and once other formation evaluation programs have been completed.

“Marina-1 has proved an active hydrocarbon system in WA- 318-P, with migration of hydrocarbons to suitable traps,” Drillsearch said.

“WA-318-P is a very large block covering approximately 3000 square kilometres.

“Drillsearch looks forward to the future exploration and appraisal of the block. Currently the forward plan is expected to involve acquisition of new seismic followed by a further well.”