Loss recorded as Murphy strikes out

MURPHY Oil has confirmed that its third and final well in the offshore Perth Basin, Munia-1 was plugged and abandoned as a dry hole, however the US oiler has reaffirmed its commitment to exploration in the Vulcan Sub-Basin and the Ceduna Basin.

It has added a new block in Western Australia's oil prone Vulcan Sub-Basin, without a well commitment, and in South Australia's frontier Ceduna Basin it has completed its seismic program across EPP