only negative no oil, page-4

No commercial gas in this section where none was expected prior to drilling. However the target zone of this well is upgraded because the conditions for trapping hydrocarbons has now been proved.

Disappointing on one hand but more prospective in the main target zone on the other, and already elevated gas readings. Plus an upgrade to Stokes Bay prospectively, for as you say, this is where the gas may have accumulated after migrating through these lower sands.

"These Lower Anderson sands and their lateral
equivalents are the primary target of the Stokes Bay 1 well, which will target them in a crestal location on the structure.

Please note that at Valentine-1 the secondary reservoir
objective Anderson Formation sands are not mapped within closure. This 160 metre gas show interval in Valentine-1 within the Anderson Formation enhances the prospectivity of these objectives in the updip location in the Stokes Bay-1 well."