Target Energy has discovered oil in its first well at the Fairway Project in Howard County, Texas, US.

The BOA 12 #1 well encountered potential oil and gas pay zones in all primary and secondary targets, and Target will complete it as a producing well.

The well, drilled through a 1,080m section in the Wolfberry zone, exhibited numerous shows, particularly in the Wolfcamp, Strawn and Mississippian formations.

Target has a 60% stake in the Fairway Project.

In addition, Target has also made a separate discovery in the San Andres formation from which oil was discovered at a depth of 1,312m.