The Martlet-1 well discovery is the first Namur sandstone oil discovery in the permit, proving a success for the JV which drilled the well to assess the oil potential of the formation.
The JV discovered 6m of oil pay through logging operations, with the well reaching a total depth of 2096m and interpreting good oil shows in the target reservoir.
The well is now being cased and suspended and is expected to be placed into production early next quarter.
"The presence of oil within the Namur Sandstone confirms the extension to the north of the play that has delivered prolific fields such as Bauer, Callawonga and others further south, and provides an additional primary target to the proven Birkhead oil play in the area," Beach managing director Reg Nelson said.
"This discovery further demonstrates the strength of Beach's oil business in the Western Flank of the Cooper Basin."
The discovery came as Senex plugged and abandoned its Squire-1 well in PRL 59, after it encountered oil shows in a poorly developed reservoir.