The G-6 well in Main Pass 18, in which Petsec holds a 100% working and 83.3% net revenue interest, last month discovered 7.5 billion cubic feet of gas and

1.1 million barrels of oil.

At the time, Petsec managing director Terry Fern said this discovery was large enough to warrant a separate development at Main Pass 18.

Yesterday the Perth-based company said it was waiting for the access dispute to be settled before the G-6 well could come on-stream. The company did not elaborate.

Meanwhile, the three wells currently online are producing at a total daily rate of 15 million cubic feet of gas. Based on its 45.84% revenue interest, Petsec is entitled to earn about 7 million cubic feet of gas per day from these wells.

All four wells are part of a successful drilling program undertaken by the company between December 2005 and March 2006 from the Main Pass 19 platform.

The program discovered a total of 15-18 bcf of gas and 1.1 million bbl of oil net to Petsec.