"Step-out Well: Exploration well drilled outside the proven limits of an oil field, specifically to test whether the production area can be expanded."
Content to go with "Wild Cat" as well, if they are chasing an undiscovered and separate reservior. But the plethora of nearby exploration and development wells tones down the application of that term to my mind.
Definition taken from this glossary that covers most common oil terms:
http://www.pacificrubiales.com/glossary.html
SGC Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
