The Adelaide-based company said the well intersected the Murta Formation as planned, but the quality of the reservoir at this location was poorer than expected as indicated by a drill stem test run at a depth of 1151-1164m.
Stuart, which wholly owns and operates PEL 113, said Padulla-7 has defined the southwest extremity of the Padulla-Murta oil pool.
Last Monday, the company announced it was plugging and abandoning the previous well in the program, Padulla-4, which also failed to encounter commercial hydrocarbons.
But the first well, Padulla-3, did make a successful discovery and was subsequently cased and suspended as a producer from the Murta and Cadna-Owie formations.
All three wells were follow-ups to the Murta Formation oil discovery made by Padulla-2 last year.