ASX rules of continuous disclosure give some wriggle room, depends on how you interpret General Rule 3.1 and 3.1a, would just opening the well be likely to impact the SP, if no immediate analysis is available is it reasonable for 88E to announce "hey boys we have opened the well, but cant tell you anything yet" because that would cause confusion. Main thing must be that until the ANN is released there is no insider dealing.
http://www.asx.com.au/documents/rules/Chapter03.pdf
Not an expert so above may be twaddle)
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