This well will be located adjacent to and up-dip from the Iona...

This well will be located adjacent to and up-dip from the Iona Gas Field. The diagram below shows how close it is to Iona. The vertical pink line is the Iona well and the vertical red line the proposed Otway-1 well.

The 3D seismic data indicates that there is an amplitude anomaly (bright spot) present at the Pebble Point and Eumeralla horizons.

The chance of success of this well is extremely high given that its literally a stones throw away from the successful Iona wells. Not only is it right next door but its updip, when gas is looking for a place to go it goes up not down.