Ann: Hydrocarbon gas recovered & evaluation program forward plan, page-1237

@Gharp and @ozblue
I think if the sidetrack works out, and proves up the discovery by bringing oil samples to the surface, all will be forgiven.
And at that point, we may actually be grateful they drilled a little deeper, as the additional information gained will result in a bigger reservoir being declared.
Put a different way, I ran see why SM rolled the dice. He may have made a different decision if he didn't have the cash in the bank to run the sidetrack.

As for the the sell off, I think it's way overdone, and completely unjustified.
I can only explain it by saying that some of the sophisticated investors from the recent capital raising must've been holding on to some portion of their holding pending a discovery announcement. But when they saw the sidetrack announcement, they decided to bail. Also, many of them probably assumed the next capital raising will be sooner rather than later now, and are getting ready for the next capital raising - rinse and repeat is the name of the game. And along the way, a bunch of nervous retail investors sold out, and stop losses were hit.
This is the only way I can explain the sell-off. Because the fundamentals are still excellent.