I think he thinks we have found solid concrete, Jem. Formations...

I think he thinks we have found solid concrete, Jem. Formations are rarely exactly at the theorised depth though and I glad we have something that resembles a hard cap.

Fair enough though, going by the share price reaction to the program to date, most others expect nothing as well. The fact the likes of Shell have been through before and found little in the way of easy to find elephant sized fields and departed has spooked potential investors.

Arc is about 1% the size of Shell and EMR several magnitudes smaller again plus the price of oil and gas has increased significantly. The point that's seems to have been missed is that we don't need an elephant, something the size of a wombat will make shareholders very happy indeed and potentially there could be several of them.

Regardless of the Valentine result, which is totally unknown for several more hours at the very least, I think Stokes Bay is far more likely to come good than not.