"The anticlines are large and petroleum reserves potential likely to be significant," the company said. "The objective petroleum system has to date not been explored and a great opportunity exists to develop this play.

"Additional seismic data were required to detail the anticlinal targets and mature them for drilling."

Several anticlines were marked out as attractive exploration targets following completion of Phase 1 earlier this year. Phase 2 of the survey, which will target 112km will be completed over the next two weeks.

The shoot will take place in PEL 6, which has been the location of 11 other seismic surveys during the past 28 years. ESG has a 97.5 per cent stake in the permit.