"Those that remain are taking a chance on a successful well...

"Those that remain are taking a chance on a successful well result". I guess that applies to anyone holding through the next drill? Genius and insightful comment!

"Before the result is known there will likely be hydrocarbon shows ...". We have had the shows. Some of it resides in beakers. Their mates are still down in the HRZ though. Potentially over 50 billion bbls worth of oil in place, of which perhaps 6 or more billion bbls worth may be commercially extractable at this point in time. We are about to find out.

"...it will all depend on testing and flow rates." Indeed it will.

"The wrong result will see the share price go down like a pricked balloon." I'm sure you are correct. Then again, the 'right result' will see it rise like a tickled pecker. 'They' say it is 50/50 on which way it could go...downside quantum is dwarfed by the upside quantum.

"... American companies have been going over Alaska and the lower 48 with a fine tooth comb for a hundred years or so, and then some Aussies come along and think they will be successfull (sic) where so many others have not." I don't know where to begin on this one. How about you Google: "Paul Basinski"; "technological revolution in shale oil extraction"; "thermal maturity sweet-spot"; and Trans Alaska Pipeline. A little Australian company (or should I call it an investment vehicle) stumbled on these few key words 2-3 years ago, and a 'grand partnership' was formed and has been successfully prosecuted to date. If things keep going well, then a couple more years to see this play out in a manner laid out to investors on many occasions.

Serendipity? Or just lucky? As they say good luck occurs when hard work meets up with opportunity.

All IMO. GLTA.