Origin Energy said that the Speculant-1 exploration well had reached total depth of 4,917 m MDRT.
As revealed on 9 December 2014, the Speculant-1 exploration well had encountered potentially commercial quantities of gas in the primary target Waarre Formation reservoirs in the Otway Basin, offshore Victoria.
Preparations are being made to suspend the Speculant-1 exploration well while development options for the resource are assessed.
The Speculant-1 exploration well is situated approximately 3km off the southern Victorian coastline, about 30km south-east of Warrnambool.
Origin has 100 per cent ownership of the Speculant-1 well permit.
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Press Release; Image: Origin Energy