i love this share, page-23

Despite the current depressed O & G sector, there are still many opportunities around to be pursued whether is in Australia or abroad, do not see any logic or sense to persist on the Brazil development, the board are supposed to be well paid thinker, competent and astute business men and woman, may be they should seek advice from blind Freddy.
One stock that I know and sold, got 3 D done with potential 1.5 trillion m3 of gas near a producing gas field in Bass Strait, essentially has no fund and desperately seeking 3rd party to fund / proceed further, probably KAR can gobble up for less than $10 m plus $50 m to sink a hole.
If successful --- happy days for every one, develop and supply gas to the tight east coast market (due to restraint place on frackings) for many years to come. rather than spending $50 m appraisal wells in Brazil, even it is successful, still a dead duck at current POO.
Afterall the company namesake is GAS not OIL.