I think the Palta drill will be too late to kick the oppies along.
"Partner Shell Development (Australia) Pty Ltd also has committed to drilling the Palta-1 gas exploration well in WA-384-P by August of this year, or before the end of the permit's sixth year. WA-384-P is located in the Southern Exmouth Sub-Basin."
http://rigzone.com/news/article.asp?a_id=114781&hmpn=1
and also
Per Octanex AGM presentation last Nov 2011
"Shell advanced plans to drill Palta-1 by completing a 3D survey in WA-384-P. Drilling planned for Q3 2012. Octanex has a 1% overriding royalty and rights to discovery payment"
heads vs oppies, page-12
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