Ann: Merlin-1 well confirms light oil with appraisal well planned, page-59

read the whole announcement and discuss?? this below means the well was a duster Bill....a failure.... it does not confirm as you say "lots of oil"

....in my view they are ripe for a capital raise and this is the pump....i expect a TH very soon... the presence of oil was to be expected...but 88e drilled in the wrong spot....again.......this is a classic set up for a raise....

. Fluids recovered via downhole sampling from three Lower Grandstand units has
confirmed, through laboratory analysis, to be primarily water, though carbon isotope analysis of
these fluids deemed the respective source rocks to be in the oil window. Note: the most prospective
zones in the Merlin-1 well, namely N20, N19 and N18, were not able to be sampled due to
operational issues.