PEL 62 covering 2023 square kms of the northern Robe and Penola Troughs in the Otway Basin of South Australia was granted to Lakes Oil NL and Sun Resources NL in November 1994, initially to investigate the potential for the stratigraphic entrapment of hydrocarbons within basin margin pinchouts of the Lower Cretaceous Pretty Hill Sandstone. Seismic coverage of the licence area was limited, but when combined with deep water bore intersections was sufficient to indicate that the Pretty Hill section was overlapped by the Lower Cretaceous Eumeralla and Crayfish Formations along most of the troughs' northern flanks. A large structural/stratigraphic trap, the Wanda Prospect, had previously been defined by Minerals and Energy SA seismic mapping. This prospect was drilled by the PEL 62 partners in December 1996, encountering an excellent quality Pretty Hill reservoir which unfortunately was dry and devoid of hydrocarbon shows. It was concluded that the drilled location lay some distance south of the objective pinchout edge, but follow-up drilling at Wanda was discouraged because of the now reduced potential size of the trap. Next the licensees turned to analysis of the new, semi-detailed aeromagnetic data for the region which had been obtained in early 1997 as part of the South Australian Government Exploration Initiative. This work merely confirmed the Lucindale basement high as the most dominant feature in the western half of the licence, so the focus of exploration was shifted to the eastern half of the licence, and the western portion was relinquished. In late 1997 Oil Company of Australia tested the Killanoola feature, a tilted fault block structure located on the lower north flank of the Penola Trough. The Killanoola Prospect straddles the PEL 62/PEL 27 boundary on the southern edge of PEL 62. Killanoola 1 flowed relatively heavy oil from the Lower Cretaceous Sawpit Sandstone at a rate believed to be in excess of 100 barrels per day. This result prompted the PEL 62 licensees to remap earlier seismic data from their licence that lay to the north of Killanoola. A series of NW-SE trending tilted fault blocks, similar in style to the Killanoola feature, were identified. From south to north these were named Porthos, Athos and Aramis. The joint venture then decided to test the first of these, located about 3 km north of Killanoola 1, with the Sawpit Sandstone as the target. The play relied on migration of hydrocarbons beyond Killanoola into a fault closure estimated to potentially contain up to 13 million barrels of recoverable oil, whilst a greater closure could also be mapped, here dependent on the effectiveness of seal associated with the onlap of Sawpit Sandstone onto a basement high to the northwest, leading to a potential increased trap size of 38 MMBBL recoverable. Porthos 1 was drilled in April 2000, but the target Sawpit Sandstone gave only modest oil shows on penetration. However, the reservoir interval was drill stem tested, recovering more than 635 m of formation water, firm evidence of good reservoir quality. The salinity of the recovered water suggests that the trap was valid, raising the issue of whether long distance oil migration might be effective this far out on the northern flank of the Penola Trough. The PEL 62 licensees applied to surrender their licence in August 2000, citing diminished prospectivity of the acreage as their reason.