Announcement today some oil shows turned up with the drill.......

Announcement today some oil shows turned up with the drill.... Is this good news for EPE?? I wonder what an oil discovery for Kitson will do to the share price of EPE which is hit bottom. How much downside is there atm in EPE? Any comments?

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Drilled 8 ½” hole from 1465m to 1657m. Over the basal Birkhead to the upper
Hutton interval (1646m-1656m) a trace to 40% oil fluorescence was encountered
in interpreted poor quality (silty and calcareous) sands and minor hydrocarbon
shows were recorded on the gas chromatograph. The significance of these
shows and the quality and extent of the reservoir will be evaluated by wireline
logs in order to determine if production testing is warranted. Wireline logs will be
run once the well reaches total depth (2205m)