All interesting comment. My 5 bobs worth is this:1. We have five...

All interesting comment. My 5 bobs worth is this:
1. We have five zones of interest. I would be surprised if at least one was not commercial with good quality gas.
2. We have the back up of the 120 well.
3. We have oil zones and gas signs outside present drill target in 105.
4. If both drills are unsuccesful,it is highly likely that ENI would want to drill two more wells (assumming that the geology is promising). This they will do with Kris and NEN diluting for another free carry.

SP is likely to drop to mid 20's on any lack of success of present well.

A further question is what will happen to SP over interval from now until first target zone reached. There will be a lot of money in NEN that will be liquidated prior to 1st target zone penetration. Many people won't take the risk, even though in my mind it is probably as low as 1 in 2 on being succesful.