Target Energy Limited announced that drilling operations have successfully concluded at the Sydney #2 well at its Permian Basin Fairway Project, West Texas, with the Fusselman exceeding expectations. The Fusselman Formation was intersected 13 metres (42 feet) updip to that of the nearby Sydney #1 oil well. Preliminary log analysis further confirms that the Fusselman in the Sydney #2 well is significantly thicker and more porous than at the Sydney #1 well.

The Sydney #2 well reached its Total Depth at 3,040.4 metres (9,975 feet) on 7 December 2013. Wireline log data is presently being analysed. The well is located approximately 800 metres east of the Sydney #1 well.