The potential reserves of the discovery were reduced by two thirds to around 30bcf after it was revealed that the deeper Osmancik Formation was too tight to produce economically from the earlier reported gas-prone interval.

Since then a series of flow tests were run through a separator at different choke sizes and two pressure build-up surveys were conducted. No formation water was produced during the tests and the company said the gas has a condensate content about the same as the Gocerler gas (7-8 barrels/million cubic feet).

The well has been shut in and is ready for production when facilities are available. Amity intends to propose to the Joint Venture the follow-on drilling of two appraisal wells and the construction of a pipeline link to the Gocerler Gas Processing plant, with the objective of starting commercial production as soon as possible.

An additional 17 metres of good quality gas pay, some 45 metres above the lower sandstone unit, have not been perforated yet. However the well completion is configured so that this upper gas pay can be perforated after more data is available from the appraisal wells.

The company share price has recovered from last week's news to reach $1.01 at publication time.