A tough day but it was the most likely result with a 72% chance of failure .
It was still a very good risked investment given the huge upside on a discovery result .
Things could be worse as we have support at around the share price we had before the run up to the Cervantes drill and that prospect is gone .
I presume they will not be taking up their option for the second well .
It is all about the Cooper Basin gas now .
If you invest in explorers you have to get a few bruises .
Ann: Cervantes-1 Plug and Abandon, page-17
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