Ann: West Erregulla Resource Statement, page-70

Great result but totally expected, which IMO explains the muted market response.

After the final well results announcement on 12 September I posted my final resource estimate which was:

Kingia: 967 bcf vs actual 1004 bcf
HC: 128 bcf vs actual 181 bcf (I actually posted '100-200 bcf' due the greater uncertainty so I'll claim that!)
Total: 1095 bcf vs actual 1185 bcf.

If I was able to get within 4% of Igessi's Kingia value (and 9% overall) with a back of envelope calculation pre-flow test, then you can bet the big boys who dominate the price action were able to work it out at least roughly too. There might be a few retail investors who fell for the ramping of some posters here talking up 2-3 tcf and are now selling out but the bulk of the market expected this.