trading halt, page-37

Freehold,

Simple fact is it's neither, yet.

As I said earlier and stockrocker said too, they've almost certainly just drilled into the target and had gas shows, and possibly fluorescence.

if it were a "massive hit" then why has Santos been so quiet ...not even a murmur ?

Santos are not going to say anything, it's not material for them. They don't provide constant drilling updates of onshore wells - if they provided an update every one of their wells had gas shows, they'd be updating several times a day!

They MAY update the market as to the result after flow testing, or they may not even update the market until the next quarterly drilling report.

So it's not a 'massive hit' and it's not a 'dud' either. It's a well in progress that has had initial promising indications but those results are unconfirmed at this time.

Exactly as RC said. Everybody should stop trying to read so much into what is a fairly simple announcement.