Bell Potter have followed KAR closely and they say"We are...

Bell Potter have followed KAR closely and they say

"We are increasingly confident the
structure contains at least 4 Tcf, which
is sufficient to justify commercial
development."

"How big is the Greater Poseidon Structure?
Karoon has previously estimated the Greater Poseidon Structure could contain
between 3 and 15 Tcf, with a P50 estimate of 7 Tcf. The company has not
updated this range recently, and more drilling is still needed to fully delineate
the resource, but we are now confident the drilling to date has demonstrated the gas resource is at least 4 Tcf. This volume is important as it should be sufficient to underpin a commercial standalone LNG development or possibly backfill for the Darwin LNG facility (operated by ConocoPhillips) post 2020.
If we are correct in our estimates, then the Proteus well result is important as it
de-risks Poseidon as a potential commercial gas resource. The path to full
development of the field is still likely to be 3-5 years away (assuming backfill to
Darwin LNG), but we are increasingly confident there is a viable path forward."