The campaign began in early November, designed to target information on the extent of the field to the north and east within PEL92.

Each well took around a week to drill and results were "largely in line with pre-drill expectations," Cooper said.

Three of the wells - Callawonga-19, Callawonga-20, and Callawonga-21 - successfully intersected the top of the Namur Formation reservoir, which the venture believes could lead to an increased field size.

Should the Callawonga field be extended future development drilling is on the table.

Callawonga-19 was drilled to a depth of 1,550 metres with oil shows, while Callawonga-20 was drilled to 1,485m and also hit oil.

Callawonga-21 was drilled to the south of the permit with oil shows after being drilled to a total depth of 1,494m.

The fourth and final well, Callawonga-22, was drilled to the north but came up dry.

The Callowonga field is connected via the PEL92 pipeline into the Lycium hub facility.

Beach is currently undertaking a review of the data from the campaign to assist in selecting future development well locations.

Following the success of the appraisal campaign a further four wells will be drilled on the Butlers oilfield also located within the PEL92 permit.

Both drilling programs form part of a larger 19-well campaign by the PEL92 JV for the 2020 financial year.

Beach Energy was down 2.9% today at $2.36 per share. Cooper was also down slightly at 53.2 cents per share.