Norwest Energy has brought forward the spud date for the Xanadu-1 conventional oil well within TP/15 permit in Australia's offshore northern Perth Basin.
The company opted to bring forward the drilling date to 5 September following satisfactory advancing of preparation and site works.
Enerdrill Rig-3 will be used to carry out the drilling activity, having recently completed Waitsia-3 and Waitsia-4 wells on the AWE-operated L1/L2.
Currently, the rig has reached the drilling location, while other ancillary equipment has also been mobilised.
Drilling activity is expected to last 23 days. The well will be spud from onshore to offshore using a deviated profile.
Norwest Energy stated that the target location, Xanadu prospect, is situated in shallow water near the coast and is estimated to host an unrisked recoverable resource of 160 million barrels of conventional oil.
The drilling programme will primarily target the Permian Dongara Sandstone, while the secondary targets are in the Irwin River Coal Measures and the High Cliff Sandstone.
The structure exhibits same play that resulted in four adjacent oilfield discoveries, which are Cliff Head, Hovea, Eremia, and Jingemia.
Norwest Energy CEO Shelley Robertson said: "A large conventional oil discovery at Xanadu, combined with the recent success of AWE’s prolific Waitsia drilling programme, will bring much greater focus to the region.
"Xanadu-1 is the third and final well to be drilled in the basin this year, and represents a rare opportunity for investors to participate in a drilling event."
TP/15 permit covers an area of 645km² and occupies the 3nm-wide state territorial waters of Western Australia.
Norwest Energy owns operatorship of TP/15 with a free-carried 25% interest in the drilling programme.
Alongside Norwest Energy, 3C Group and Triangle (Global) Energy both own 30% in the permit, while Whitebark Energy has a 15% interest.