vugular porosity, page-14

Yeah...this vugular porosity....well thats what they think it is so far, and so far so good.
Arc always put in their reports that vugu porosity has been the subject of searches in the Canning, and hosts oil at Blina, although thats 100km away. So they should be very happy to find the Vugs at SB deeps.
Along the Nullara, they have oil at Blina and strong gas at Point Torment 4km away. So far the indicators to sucess are good.
Now, this well kicked off with the intent to drill to the Anderson formation, and sentiment was high and up beat. Then on the news that they had gone further down to the Nullara and had lost circulation, investors panicked and bailed out, not understanding what it meant. If the nullara is non productive, there is still the Anderson to test, (nothing has changed) and it has indications of oil.
Its taking some time, and I guess that the JVs who did not subscribe to the Nullara must be losing some patience.