Ann: Successful Placement to Raise A$9.9M, page-23

Yes
This is a vertical fracture stimulation, planned for each of the targets, probably a single stage.

They are trying to prove the hydrocarbon fluids are mobile, obtain samples, flow rates and get a gas oil ratio , that's all, if the flow is high enough. and the modelling predicts commerciality. They will then have to revisit at this location or another drill site for a multi stage (30 or more) horizontal drill and long term flow test. To get a decline rate curve to determine if it is in fact commercial.

That would another years work, by the time it is planned, financed and executed, if this was successful, allow a minimum of another two years and significant expenditure before any cash flow from oil.

The other path is prove up some more, and try to sell an immature asset at sufficient discount, to compensate for remaining risks