After failing to find farmin partners in the past 12 months, Empire Oil & Gas NL and sole partner, CalEnergy, will bear all the risk and spud the sizable onshore Perth Basin Eclipse-1 well in the first week of April.
Empire said negotiations are underway with the rig 24 owner, Century Resources Ltd, to have it available around the 7 April.
Eclipse is located 54km north of Perth and is estimated to contain about 557 billion cubic feet of gas. The structure is also close to infrastructure to supply gas or value added electricity to the State's south-west, the company said.
Empire has a 59.211% stake in EP 389 Joint Venture with partner CalEnergy holding the remaining 40.789%. CalEnergy's US-based parent company is connected with Warren Buffet, America's second richest individual.
Empire recently raised $900,000 to fund the drilling.