Ann: Roc-1 Condensate Rich Gas Discovery, page-17

Pretty good summation. It's technically very interesting but looks like several ~3m net sections and stranded for a while yet. I would imagine they would have to re-evaluate the immediate area and maybe assume Bewdy and/or Bottler are similar wet gas accumulations rather than oil and look at potential combined development. They might even look at targeting a totally different play concept like one of the reef targets. As they say, it's early days and just part of opening up a new hydrocarbon province and revising based on results.

Can't really blame them too much for the switch to wet gas given how light the oil was at PS-1 but I still would have liked to see the mud gas ratios of both for myself.

Looking forward to a full re-evaluation of the area and the likely resources.

Just a point for some to remember, you don't have to be Nostradamus to interpret drilling announcements, just read them as though someone is trying to put the best spin on a situation possible by focusing on the good bits and not mentioning the bad until they absolutely have to. Hopefully several posters understand now that when a company doesn't announce any hydrocarbons for half a kilometer it's because there haven't been any and someone pointing that out isn't being a big meany - they are just listening to exactly what is and isn't being said.