Methanol Australia told the Australian Stock Exchange yesterday the survey was completed “well within” budget, with no reports of health, safety or environmental incidents.

Processing of the new data, which Methanol Australia described as being of “excellent quality”, has already started onboard the vessel and is currently being prepared for transfer by helicopter to the PGS Australia processing facility in Perth.

The 3D data was obtained to confirm how the faults and fracturing are distributed and oriented in the 50m gas-bearing fractured carbonate zone of the Epenarra prospect intersected by the Heron-1 well in 1972.

The survey will be used to determine the optimum location for the Heron-2 appraisal well.

Methanol Australia reiterated that, in partnership with Coogee Resources, it has secured the Seadrill West Atlas Jack-up drilling rig on a 12-month contract.

The West Atlas drill rig is currently being built at the Keppel FELS construction yard in Singapore and is due for completion next August.

Shortly after, it will be delivered to the location of the proposed Heron-2 well.

Methanol holds a 100% interest in NT/P68, containing the Epenarra Prospect, which lies immediately west of Tassie Shoals.