*** the article confidently mentions 7TCF for Poseidon.. how do...

*** the article confidently mentions 7TCF for Poseidon.. how do they know this ,, it hasnt been declared as yet..???


http://business.smh.com.au/business/goldminex-gears-up-for-a-result-in-png-20090823-ev26.html

Excerpt of the article above is below. :

Plenty of life in Karoon

It's been one long party for Karoon Gas shareholders on the strength of its Browse Basin gas success with the drilling of the Poseidon well.

Poseidon was the first well in a series that Karoon and its big brother partner, ConocoPhillips, are drilling in their Browse permits off Western Australia. It confirmed enough gas to underpin a liquefied natural gas export project, with processing to take place at the ConocoPhillips-managed Darwin gas plant.

The 7 trillion feet of gas found with Poseidon is the equivalent of 140 million tonnes of LNG. Still, there is a bit of nervousness creeping in to Karoon's share price before results are known from the second well in the program, Kontiki 1.

Kontiki's drilling results should be known by early to mid September. While it approaches total depth, Karoon's share price has fallen from a record $12.10 on July 24 to the $9.54 seen on Friday.

It seems that some punters don't want to be caught staying too long at the party should Kontiki disappoint.

But would it really matter? It's a question addressed in a recent report by Merrill Lynch. It said that success at Kontiki would add $1.50 a share to Karoon's valuation, while failure could result in $4.40 a share downside. But the broker goes on to say its price objective for Karoon has been raised by 30 per cent to $11.80 a share.

The reason is that Karoon's second leg, its highly rated offshore Brazil oil exploration expedition, is starting to take shape. Then the fun in the stock will really star