Here is how this will play out

This appears to be a major discovery.
Maybe another well or two will be needed as well as a reinterpretation of the seismic , to delineate the structure and calculate reserve estimates.
It will become clear that Carnarvon will need lots, and I mean lots of cash for appraisal . This is before
development plans and budgets are estimated.
Development of this type will take , at a minimum , several years,...maybe four , depending on what infrastructure configuration they require.
It becomes even clearer that , Carnarvon will need to raise a lot of money.
This is where the usual suspects rise up out of the swamp and start shorting the stock.
Bottom line is that this is probably a great discovery , however, it will be a roller coaster ride for CVN shareholders.
Most money will be made by having a core holding and sitting on it , as well as a trading block to take advantage of highs and lows.
Good luck to all.