Eagle Bay is currently drilling the program’s second exploration well, Vanessa-1, ahead to a total depth of 3250m.
The well, which spudded on May 12, was yesterday at a depth of 2513m in the Poolowanna Formation.
Eagle Bay said no hydrocarbon shows have been recorded so far during drilling.
The first well, Sarahlyn-1, was plugged and abandoned after wireline logs confirmed it was sub-commercial.
Now the joint venture has contracted ISIS Petroleum Consultants to further de-risk the next two wells in the campaign, Jasmine-1 and Michelle-1, with seismic remapping and reprocessing.
This means drilling of the two wells will be delayed by a further few months.
The PEL 182 JV comprises Audax Resources with a 49.9% stake, Eagle Bay (operator with 37.6%), Dome Resources (7.5%) and Australian Oil (5%).