Seems to be a few that are struggling with this announcement. We still have the target zone to drill from now forward (Kingia). We have seen gas shows in the intermediate targets (Dongara & Wagina). Wireline logs were affected by poor bore hole conditions, however analysis suggest the Wagina holds a potential gas accumulation. This is backed up by the fact that the JV have agreeing to run production quality casing over this intermediate zone, in the hope that this zone can produce recoverable gas (more testing required). End of the day I think the announcement is OK, potential gas in the intermediate zone and the primary target to come. The bad takes for me is the "poor bore hole conditions" and I think the drilling timeline would suggest this has been hard going.
I would also like to hear from the geo's about the COS now that we have seen some gas above the primary target (great question).
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