andrew,
read
http://www.woodside.com.au/NR/rdonlyres/62E47F66-2012-43DB-A88D-A077329FE880/0/PlutoProjectApprovalPresentationPack.pdf
pg 7.
Look at the size of the target WPL drilled recently and is targeting, to top up gas supplies for Pluto.
Ixion <1Tcf target and WPL were dead keen to drill this 3 years ago!.
Now for 12 Tcf lower risk well. Gee I wonder should we drill it?