The 120 billion is just someone's theory of what has been...

The 120 billion is just someone's theory of what has been generated. Even if he is correct, only a fraction will ever be recovered. It still needs to migrate into traps, and those traps need to be found. I knew a geologist who was convinced the Surat Basin should be a mini-Saudi Arabia, even with decades of drilling to suggest otherwise.

Recon have not disclosed much information. They should have run wireline logs and formation evaluation tools, and then reported things like saturation, porosity and net pay thickness. So far they have only mentioned shows and some sidewall cores being analysed. It is promising that they have got a sniff, but that is all it is so far on the information released. I am not saying Recon won't end up making a big discovery, but at this stage what they have announced does not confirm anything yet.