The well is currently at f 1117 metres. A drill stem test today will determine the oil potential of a basal Bundamba sandstone interval where the oil show was encountered.
If the test is successful, a core will be cut over the next interval and the well drilled to its total depth of 1150 metres.
Bow said it will drill deeper if oil shows continue beyond total depth.
The Pickabooba prospect lies in a proven gas province and has up to 45 billion cubic feet of recoverable gas potential.
Drilling is being conducted by Rig 101, operated by Brisbane-based Mitchell Drilling Contractors.
