Bob&Sandy, I've been impressed with your consistent optimism (keep it up!) and I think in this case it's justified - maybe you can bet the farm you don't have.
I'm surprised that there hasn't been a TD announcement since drilling to TD trouble-free is a price-sensitive event but Karoon have always been stingey with their information (my only criticism). I suspect that by now they have reached TD and are logging.
I'm also surprised that they have cut cores at two levels since this is not a trivial exercise. It takes time and has some risk, so it's saying that CoP are very bullish. If they have reaced Td, they will already have LWD logs and will spend some time running wireline logs including sampling and pressure measurements to confirm the gas column. This all takes time (several days) but I'm expecting a test announcement soon.
The SP has been surprisingly subdued but I think you can sleep easily, Bob.
Cheers
td, page-22
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