Ann: Operations Update - Rafael 1 exploration well, page-17

There is no arguing that oil is preferred due to development costs and time to market etc but it's important to remember that Buru wanted to drill this prospect when they thought it was wet gas and have been talking about unconventional wet gas with conventional horizons at Yulleroo for years. If this is a conventional wet gas reservoir it's actually very exciting and probably comes down to expectations and what you're measuring against. Yeah it's less exciting when you measure it against the best possible blue sky outcome you can imagine, but it's still exciting when you measure it against an-explorer-needs-to-find-commercial-hydrocarbons-at-least-every-so-often.

Another way to think about it: It's entirely possible for Rafael to have 2-3 times more liquids than Ungani depending on how wet the gas is and size of the recoverable resource. Also makes Bickley etc natural follow ups.