Drilling of the well, called Habanero 4, is expected to take four months. The well is seen as crucial to proving the future viability of the joint venture’s operations in the Cooper Basin in the state of South Australia.

“Recommencement of drilling operations at Habanero 4 is a significant milestone for Geodynamics,” chief executive Geoff Ward says.

Innamincka Deeps has sold its drilling rig for A$16.8m