Salinas said the increased revenue was achieved without the benefit of a full month's production from the first two horizontal production wells, Lombardi 10-27H and Lombardi 13-27H, brought on line earlier this month.

According to the company, production from the field is expected to hit a new peak once the final two horizontal wells are tied into the NSA production facility within the next 10 days.

Managing director John Begg said the results give added confidence of achieving forecast revenues of over $US20 million.

"We expect to further increase monthly oil production and revenue levels in June and July from the current well program then see some levelling or decline in production ahead of another horizontal production well program that is planned to commence late in the third quarter this year," he said.