Alberta Energy made an announcement that oil was discovered offshore Australia in the Timor Sea on the Northwest Shelf in block AC P22. Initial test results indicate the reservoir is highly permeable and may be very productive. Tests further indicate a total of 31 feet of net oil pay. An appraisal well is planned for later this year to confirm the commercial viability of the discovery. The well was drilled by Diamond Offshore's semisubmersible, Ocean General in 341 feet of water to a total depth of 7,920 feet.