this kingfisher is a laughing kookabura or, page-3

Wait until there's another announcement. There is a whole series of things to be sorted out, such as more details of flow rates and an update on the size of reserves, as well as an upgrade to CSG reserves and a possible announcement on a JV. Most likely these will have a positive effect on the SP, and I don't think it will take 2 years. A general factor holding MEL back is negative general market sentiment and negative sentiment on CSG stocks: look at what has happened with the ESG SP despite very significant reserve upgrades (ESG is now only about 30% more expensive than MEL based on 2P reserves). However, MEL is different in having conventional gas, and the good news is mostly yet to come.