Ann: Fausse Point Well Update , page-31

"What is your opinion of the potential for 1) oil and 2) gas in this well please?"

My opinion based on the ASX announcements is that they have both oil and gas. We still await to see what testing reveals.
From the drilling reports there were intervals of HIGHLY CHARGED gas....so pressurised they had to increase the mud weights to ensure the hole did not blow out. Background gas readings of over 5000 units even with mud suppressing the gas readings.
They also have strong indications of condensate (wet gas) and they also have flourescence and high quality light crude oil in the sidewall samples.
I'd say it's a very high probability that this is a big discovery. Oil, gas and six zones of interest including three zones in the bottom section. Only testing will tell though. It's a discovery but we await the size and ensuing commerciality.