Managing director Andrew Dodman said the fluid rate was around 50bbls/day greater than the company expected.

"We did not expect the rates we have got and right now we are only restricted by the pump jack we are using. After the installation of a our new jack we will be aiming for a flow of 300bbls/day."

Dodman said the company was preparing for two more exploration wells on the Utopia project in October/November this year to coincide with Santos drilling six-to-eight wells on the adjacent Tarbut project, enabling the companies to share demobilisation costs.

Following the success of the Utopia-3 well Anzoil will re-check the Utopia-1 for any missed sections in the belief that it may be as profitable as the No.3 well.

Utopia No. 3 well was worked over in order to give production a boost, involving the addition of 13.6m of perforations in the Murta formation to access oil bearing intervals not accessed by the original perforations.

The well has been on pump test since being re-completed on the 20th May 2003. The pump rates have confirmed the production potential of the Murta zone for the well, with fluid rates being maintained in the range of 140-180 bbls/day, and are restricted by the capacity of the pumping equipment.

Oil rates have steadily increased during the pump test and are currently about 20%.

The successful workover has increased production rates from the Utopia field by about 75%, and further gains in oil rate are expected as the well progressively cleans-up.