snapper well proved but undeveloped

just a reminder that the PDS stated the following regarding Snapper No.1

"will test three sandstones which contain reserves designated by the operator as proved but undeveloped hydrocarbons" ....(as the price was uneconomical at the time) almost identical the situation to the drill outlined in AKK's announcement a couple of days ago 10/4 which saw it rocket back to 37c!), hence very very low risk!! Proved be the operative word!!

let monkies sell at these levels :)

the updip portion already has a 1940 well in it (the Superior #1 Stuart) which tested gas (when gas was not as profitable as it is now. Snapper will also test a sand that has produced oil further downdip in the same compartment