Vincent-1 is targeting up to 42.4 billion cubic feet equivalent of recoverable gas and condensate in the Oiligocene age and Bol Mex sands.

Managing director Laurence Roe said if the well is successful, Bandito has the potential to significantly boost the company's second half cash flows.

"It's a well defined prospect covered by quality 3D seismic," he said.

"Bandito leads us into the 2.5 million barrel potential East Chalkley Project, which will be drilled soon and then the Catapult prospect, which will be drilled in the third quarter."

According to Roe, Catapult could make the company significantly richer, with the potential of up to 200Bcf recoverable gas and 10MMbbl of oil.

Operator Aspect Energy is expected to take about five weeks to drill Vincent-1 to a depth of 3932m.

Target has a 15% working interest in the Bandito prospect.