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The word,
Currently they are drilling a prospect with tcf potential.Some other companies would be screaming about this. although only small percentage, it still has the potential to be pretty huge. The company was privately hugely dissapointed with the way the first round of drilling went in California and are hoping this time it will be better. I dont think its been talked up much so if it dissapoints there will be no effect on the sp. NZ prospect has definate potential but not drilling there yet. Have around 6% of a huge discovery offshore that they hoped could be developed with the building of the oil search pipeline. Of course that appears to be not happening now. So yes they have some quality oil gas projects, but i would be buying for redcliffe only with the view that anything else is a bonus.
As i have said numerous times, these oil gas project give the company something to deal off so as to keep dilution to a minium.