The well - aimed at appraising the Stanley gas-condensate discovery made by the Stanley-1 well in 1999 - will be drilled to basement at a crestal location of the field to evaluate all prospective zones high on the structure.
Horizon will then plug the well back and sidetrack a high-angle deviated well about 600-800 metres through the Toro reservoir as a development well.
Stanley-2 has a planned total depth of 3270m.
Current estimates of the Toro reservoir resource is about 300 billion cubic feet of gas and 9 million barrels of condensate.
Horizon added that if successful, Stanley-2 will be completed as one of two planned gas production wells in the Stanley condensate stripping project.
Horizon and partner Talisman Energy each hold 50% of PRL 4.