"Crux-4 is the third appraisal well to be retained as a future development well, representing a significant pre-investment in the Crux liquids project which is expected to reach a financial investment decision later this year," Nexus said.

The drilling operations on Crux-4, which immediately followed the drilling of Crux-3, resulted in a continuous improvement in drilling efficiency that led to significant cost reductions, according to Nexus.

Crux-4 has confirmed that the Crux field extends into the previously undrilled South East Horst block, intersecting 126m of net gas sand over a total column of over 310m, the company said.

"The well encountered the top of the gas column at the highest point seen in the field to date, approximately 20 metres above the highest gas sand seen in the Crux-3 well," Nexus said.

Four additional development wells are planned for the Crux liquids project, but these will not be drilled immediately

Crux-4 was the second of three wells to be drilled in the greater Crux area. The third well, Libra-1, will be drilled in April in the adjoining AC/P41 exploration permit, in which Nexus and Shell Development Australia hold 50% each.

The Crux partners are Nexus 85% and Osaka Gas 15%.