Juls,
A release was out this morning.
They appear to have encountered natural gas in the upper coal seams - they appear to have confirmed that a petroleum system exists.
If this was in the Officer, or the Wiso, or some other greenfields basin, I'd be getting excited too, but guys Gipplsland is already known to have oil and gas around.
DSTs, thats when we count the marbles. And right now, we dont know if Megascolides has a viable structure holding hydrocarbons with good permiability.
Ian Whitchurch
1st drilling results out, page-4
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