Origin Energy says the Speculant-1 exploration well in the Otway basin, offshore Victoria, Australia, is to be suspended while development options are assessed.
The well, which encountered "potentially commercial quanitities of gas" in the primary Waarre formation reservoirs target, as announced 9 December, had reached 4917m MDRT (measured depth below rotary table).
Speculant-1 is about 3km off southern Victorian, about 30km south east of Warrnambool. Extended reach drilling technology is being employed from onshore to access offshore gas reservoirs.
The well was drilled using the rig Ensign 931 in conjunction with the development drilling of the Halladale field. Origin has 100% ownership of the Speculant-1 well permit.