Hi Dex, agree mate. If the next 2-3 wells dont turn up positive then i fear we are destined for the penny dreadful end of the scale and its a long way back from there. The problem is, as you and Posty have clearly pointed out, that when touting high estimates, a discovery nearer the low estimates will be a disappointment. Even though a discovery in the P50-P10 range would be a positive not sure that the market would see it that way when 500mmbl is what is being talked up, much the same way as the 2TCF target at O2 when it was always going to be a tight play with low flow rates. Sometimes its better to create low expectation and surprise to the upside. I think even the coal results are another example of this.
CTP Price at posting:
29.5¢ Sentiment: None Disclosure: Held
