Target for Beehive is a Deeper formation which is Carboniferous...

Target for Beehive is a Deeper formation which is Carboniferous in age. The gas that's flowing out of the 2 production Blacktip wells is from a much younger Sand which is very shallow.  

Other then Blacktip wells, there r a couple of nearby offset wells which I've listed below.

1) Sidestep-1 drilled by Nexus in 2008 using a JUR. This was shallow well (sub 2000m TD) & is apprx 20km north of Beehive prospect. Chkout the map of drilled wells from their ASX release, http://www.asx.com.au/asxpdf/20080827/pdf/31by8bqj2xk82l.pdf

2) In 2003 Woodside-ENI JV drilled Weasel-1 using a semi-sub Sedco 703 to a depth of 1776m with no luck. Again this also was a shallow well, http://www.asx.com.au/asxpdf/20030318/pdf/00351471.pdf

So that's the history of the area. There r few other vintage offset wells Cambridge-1 & Lacrosse-1, but they r to way down south from Beehive.  

In the end it will come down to how good the anomalies (DHI/bright spots) look on the 3Dseis that's planned at which point STO can decide to proceed with the drilling of a Exploration well or opt out. Testing etc will depend on if any movable HC's are encountered from the Logging data. So plenty of time before all that happens.