The Sharples-1 well, located in permit PEL 92, had reached a total depth of 1961 metres last Thursday.

Both Sharples-1 and another recently-drilled well, Rincon North-1, were designed to test prospects defined by 3D seismic acquired last year.

Rincon North-1 was cased for future oil production last week after logging and testing revealed the presence of a seven-metre gross oil column in the McKinlay formation and Namur sandstone.

However,