"The recovery of oil from the DST indicates a probable commercial oil discovery in a basal Westbourne sandstone, the significance of which will be further evaluated after logging and completion of the well as an oil producer," Beach Petroleum reported.
"Drilling will now continue to evaluate the Hutton Sandstone."
The previous four wells in this program are set to become oil producers. The next well to be drilled in this program is Bodalla South-15, in which Beach has 100% stake.
Joint Venture participants in Coolum-1 are Beach Petroleum Ltd (operator) 46.95%, Inland Oil Production 20%, Entek Energy Ltd 28.15% and Gidgealpa Oil 4.9%.
