Drilling of the Paddy 20 State-1 well achieved a total depth of 2300 meters and aimed to test the potential of the Paddock/Blinebry formations.
The company has logged the well now as the operator plans production casing to the total depth.
Otis said wells in the prospect gave average gross reserves of around 110 to 125 million barrels of oil equivalent.
The company, which has agreed to pay $5000 for reimbursement of historic costs for acreage, noted it will participate in further wells on a well-to-well basis with minimal projects costs.
