LOL - technically then so are 1P Reserves (an estimate that is, and especially so without production history). At least its an independent guesstimate.
It's a starting point. Now apply what you've researched about risked recovery for a Prospective Resource in the Cooper Basin. Then apply what the JV has learned from the its drilling (and their discovered resource).
Then accept what is described for the stimulation and flow testing plan where that discovered resource can be evaluated and risked/upgraded to a Contingent Resource - (which is in place for Halifax)
I would ask - what's not to like about that announcement?
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