"Whilst the testing phase of this well is taking considerably longer than we had planned, this is because we are encouraged," said Novus' managing director, Dr Bob Williams.

"The point of the exercise here is to gather the quality data we would need to enable us subsequently to fast-track any development plan if a commercial project is confirmed by the testing."

Novus told the market once testing operations are completed, a statement will be issued by the joint venture partners on the commercial viability of Tibat-1 well.

Participants in the well are Novus (40%), Atlantis Holding Norway A/S (25%), Eagle Energy (Oman) (10%) and LG International Corporation (25%).