they found hydrocarbons, page-32

Siesmic data (which they drilled on) is not an exact science and therefore should be viewed by the limitations it has. ALL non intrusive testing has limitations. There is no substitute for real data (ie: dirt or gas/oil from the ground). So knowing this there is no reason why it is not feasible that they found something at slightly different depths to what was expected. This is more likely given what they have found.

There is no reason to sugar coat the bad news they already have given us, so I am confident that we will see a good announcement soon.

For the record I have no position below because I only hold BUY.