Ya, you are spot on whilst they have fulfilled their permit...

Ya, you are spot on whilst they have fulfilled their permit commitments, which are classified as a compliance hole to meet expenditure, The board of Karoon have the companies veiw that is always best to drill where they will acheive the best exploration results and permit commitments are secondary. So what am saying is that lets get a clearer picture of this monster that is Poseidon, we now have large 3-D seismic survey. So in the shareholders interest of spending money on this data lets use it on a P3. results for P2 well should be out early 2010, which should give us a better indication on drilling P3. This Poseidon will be bigger than Ichthys feild. Thats a project worth 20B, and will have a 40 year life, 12.5TCF, everyone just needs to be steady as she goes..The gas has nowhere to go it is there..this will be a major gas- condensate discovery.