The options will not be underwritten.Nobody will underwrite...

The options will not be underwritten.

Nobody will underwrite options, that expire in 1 month, to the tune of $30+ million. The shares are so far out of the money they will not be in the money within the next month.

There is nothing else to find in this well. The good news has ended. What they have is what they have and nothing confirms they have a commercial well.

Production testing outcomes will take months. Any connecting pipeline will take months. Any new money for work or a new well will cost shareholders many more millions of shares and new free attached options.

This outcome is in the main a company breaker.

On Friday, early morning, it was announced that drilling depth was 14108 feet and drilling ahead at 16 - 37 feet per hour.

This morning we're told that drilling is suspended at 14,216 feet. At the drill rate reported on Friday they stopped drilling mid morning (latest) Aus time - abandoning the main target zones.

Be interesting to see when the volume kicked in on Friday. Although a decission on the future of the well was probalby made some days before Friday. Something smells here and it isn't gas from Para 2#.

The ASX should take a look at how this unfolded.