So they drill this well deeper to better understand if the...

So they drill this well deeper to better understand if the region has a further level of opportunity.
There will not be oil or gas there this is pure regional understanding and important.
For us shareholders the share price is a reflection what people see as the long term value.
There are plenty of regions such as the Timor Gap that have been very successful, but not a new "Bass Strait" which has been in its last few years of production for 40 years. That was a "new region", is this this one like that, or just a series of nice tidy discoveries.
For Santos its easy they have a whole range of irons in the fire and this basin is one. For CVN its their existence.
So Santos can look at the P50 as it stands now and go, the discounted value is X and the inventory of leads assumed and mapped is say 2 Billion BOE. Risked at say 10%, but rising by a factor of maybe 2X every successful well in and around the basin. Its just a numbers game if the next well is successful move cash resources to this basin if not hold or bias to some other basin.
The next well will greatly define the risking of the whole region and the consequent lead inventory value for CVN the deepening of this well will be unnoticed by the market but actually as important.
If there was a whole new play underneath the discoveries to date and given that the oil and gas discovered so far has likely migrated from elsewhere its important.
I like to think very simply. Oil is worth in the ground US$10/bbl. people will argue about this but its what fields sell for, P90 plus 50% of P50 times US$10. If there is a premium in any valuation you need to move the Inventory from faith to probability.
CVN look in good shape.