Mirage-3 will primarily target the Murta oil sands at a depth of 1316m, which is producing 970m south-west at Mirage-1, and being completed for oil production 400m south-west at Mirage-2.

Secondary targets are the McKinlay sands at 1368m, Namur at 1383m, Birkhead at 1592m and Hutton at 1618m.

VicPet managing director John Kopcheff said the Mirage joint venture expects to ramp up production at the field from 400 to 1000 barrels per day, if this last well in the program is successful.

Last month, the company announced the Mirage-2 appraisal well would be completed for production, after two cores cut in the objective Murta Formation had oil indications from a depth of 1322m to 1337m. They said the best reservoir was indicated from 1322m to 1328.5m.

At the time, Kopcheff said based on these initial results, Mirage-2 has similar oil saturations to those in the currently producing Mirage-1 well, which is 580m south of Mirage-2.

Participants and their interests in the Mirage and Ventura Oil Fields and PEL 115 are: Victoria Petroleum NL (operator and 40%), Impress Ventures (27.5%), Roma Petroleum (20%) and Entek Energy (12.5%).