west australian, page-6

i'll retype the positive bit that sue12 must have missed:

Oceanic Asset Management fund manager Elliot Rowton said he had invested in Golden State based on what the company had discovered to date not for the yet-to-be reached main target.
Mr Rowton says he expectes the company has the potential to move into production within 12 months.
"We believe that the market is overloooking that factor at the moment, if hte market was not focused on that bottom target then psychology of this company would be a lot different."

Another comment from an "industry source":
"They have intersected some interesting gas and oil indications but the main target zone is at least 400m deeper to prognosis, so the initial interpretation of the seismic was wrong and it may well be that the structure is different in shape"
Same source said the cost of Paradox Hole 1 could potentially be $20m