It is not unusual that an exploration well is unsuccessful .They...

It is not unusual that an exploration well is unsuccessful .
They did not quote the COS but it was probably under 50% , so a dry hole was the most likely result from the start .
At least the hole was done efficiently and well under budget .
They appeared to be funded for the next two holes so lets see how they go .
Exploration is a high risk , high reward game .
Just think one dry hole drilled well under budget and mainly paid for by their farm in partners justifies the destruction of the value of the business that has occurred .
I think a lot of the drop was because of the way they communicated the result to the market .
Should never have traded in the morning before the Announcement was made .
Very surprised they have not had a Please Explain about that .