"well has intersected a 6m sandstone 2855-2861m MD with good oil...

"well has intersected a 6m sandstone 2855-2861m MD with good oil shows including slow to moderate cut"

From what I understand, they have been drilling through really hard rock, which is a very good sign as it's like a seal around the oil well - holding it all there. Apparently oil wells that are surrounded in softer rock lets the oil seep out.

So as at 12pm WA time (3pm EST), they have 53m to go to reach their 2920 primary target, but they are already seeing oil shows 53m away.

GOOD SIGN TO ME.

Anyway, the best part to me is:
"It is still expected that the primary Middle Triassic target will be reached during this week. Well updates will continue be as regular as required to ensure shareholders are informed of progress. A weekly drilling update will continue to be released each Friday."

They could easily do the final 53m overnight. I continue to buy! :)