nz east coast oil

I'm not in this stock and don't know a whole heap about it's fundamentals. However thought it may be of interest to those of you who do:

On NZ TV3 news there was an item about the drilling in the east coast basin. Unfortunately it's been unsuccessful and the rig is moving on to another location. They beleive there is oil further out in deeper waters. The pocket of what they beleived to be hydrocarbons turned out to be water sadly.

Have a good day!