In a statement yesterday, the Perth-based company said the John-50-V rig, which re-entered the Cambay-72 well a week ago, has so far drilled out the cement plugs, pressure-tested the casing and undertaken wireline logging.

“Importantly, a well velocity survey has been completed, which will allow Oilex to calibrate the newly acquired Cambay 3D seismic survey data for the first time,” it said.

Looking ahead, Oilex plans to perforate the casing to test the Eocene Sandstone encountered at the base of the well.

Depending on the results, Oilex will carry out a testing program on shallower Oligocene reservoirs where hydrocarbons were interpreted during drilling.

In late September, Oilex announced that wireline logs indicated its Cambay-72 well had encountered a significant column of excellent quality gas.

Both gas and oil flowed to surface during drilling from the Eocene section, which Oilex described as “significantly over-pressured” below a depth of 1730m.

Oilex is operator and holds a 45% interest in the Cambay production sharing contract, while Gujarat State Petroleum Corporation has 55%.