Gamma-1 is the second well in a three-hole oil exploration drilling program in the block.

The well, to be drilled to a planned depth of 1504m, will test a mapped four-way closed structure with primary oil targets in Jurassic aged Namur and Hutton sandstones.

Secondary targets are sandstone reservoirs in the Murta, Adori and Westbourne units.

Bow said one of Gamma-1’s target zones alone has the potential to contain 6.1 million barrels of recoverable oil.

After Gamma-1, and subject to lease access, the rig will next move to Nora-1, which will test a four-way closed structure with up to 6.5 million barrels of recoverable oil potential in one zone.

Bow said there are 21 oil prospects and leads identified in the Wompi Block of ATP 752P, which offer follow-up oil potential from any new oil discoveries.

Two additional wells in the Barta Block of ATP 752P are planned for later in the year.

Bow said the Barta Block wells and final drilling locations are conditional on the results of the interpretation of recent 2D and 3D seismic programs in the Block.

A preliminary interpretation of the new and reprocessed 2D seismic data has so far identified 19 oil prospects and leads in the Barta Block with commercial oil potential.

The company is fully-carried on the Cooper-Eromanga oil exploration drilling program, with Avery Resources (Australia) funding 100% of each Wompi block well's cost to casing point or plugging and abandonment.

The interests in ATP 752P (following the completion of the Avery farm-in) will be operator Bow 25%, Victoria Petroleum 25% and Avery 50%.