have we really found oil? , page-14

The other thing to be said about MEL is that management are generally very conservative in their announcements. The only time I would say they have been a bit sensational is the description of Kingfisher as the biggest conventional gas discovery in NSW in a century. That was true, but the press got hold of it and turned it into The Biggest Gas Discovery In NSW In A Century, which wasn't true, as there have been much bigger CSG finds including MEL's own. The result was that the SPP was fully subscribed (and more), which I guess was MEL's purpose in creating the publicity. Also, the SP briefly went as high as $1, but it has come back from that level by about 1/3. With any positive news it should easily go back to $1, at which point it will be very cheap rather than extremely cheap.