The well was at a depth of 2750m, according to yesterday's drilling report, and the next target was estimated to be at a depth of 3300m.
While the primary Pleistocene-age sandstone target did not yield hydrocarbons, it was found to have a good reservoir quality.
"The presence of significant sandstones at the Pleistocene level in Hagana has de-risked one of the main uncertainties in the basin floor fan sandstone play, confirming the broader potential of the Pleistocene stratigraphic level in the Gulf of Papua," Oil Search said.
"The data gathered will allow the seismic data over the area to be calibrated with real rock data and will enable a thorough analysis of other prospective locations in the Gulf of Papua."
Hagana-1 is about 10km northeast of the recent Flinders-1 well, which failed to find commercial hydrocarbons for the Oil Search (40%), Total SA (40%) and Nippon Oil Exploration (20%) offshore joint venture.
Oil Search and Total are keeping their offshore gas commercialisation options open, meaning that discovered gas could support a stand-alone LNG project, a floating LNG development or be used to help expand the PNG LNG plant near Port Moresby.
A JV decision on drilling the third offshore prospect, Kidukidu, is yet to be made.