The excitement drained away from Australia’s offshore exploration sector earlier this year when Norway's Equinor withdrew from the Great Australian Bight, but spirits have been raised by recent discoveries and the emergence of a new exploration play.

The Bight was viewed as Australia’s last hope for a significant petroleum province, and exploration pundits now believe there will never be an exploration well to test the Bight’s potential.

Fortunately for Australia, a promising new offshore exploration play has emerged, almost accidentally, called the Bedout sub-basin, and Equinor has an exploration permit there.