I don't agree and the ASX rules state a material discovery.
Oil or gas shows in cuttings or mud are not that Imo.
It's the reason SM is going to need to be super careful. You have a gov who announced a discovery in 2018 imagine what would happen if they announce oil shows and its not commercial!
Ivz will need to announce with absolute clarity, not something they have managed in the past tbh, whether its commercial or a duster imo.
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