In a statement, Mosman noted that drilling began on 19 March and by 24 March the well had reached a depth of 3,713 feet – target depth for well is 5,100 feet.
It added that ‘meaningful results’ may be available in 10-12 days.
Both the Stanley 1 and Stanley 2 wells are located on the same well pad, and thus the results from the recently recompleted Stanley 1 won’t be available until after Stanley 2 has been drilled and completed.
"It is pleasing that both operations are proceeding. Results will be evaluated, summarised and made available to shareholders as soon as practical," said John Barr, Mosman chairman.