[quote='bdahl385' pid='80255' dateline='1493931163']
We already figured out A7ST1 was a bust but now it's double confirmed by the release of the OSH April drilling report:
http://www.asx.com.au/asxpdf/20170504/pdf/43j0vr5gq2kl31.pdf
In summary: "Interpretation of the available data continues, but at this stage the data suggests that the penetrated carbonate (510 metres) is unlikely to contain commercially producible hyrocarbons. The Antelope 7ST1 well has been plugged and abandoned..."
That hoped for "string of pearls" seems to have lost a bead or two after this well... I doubt exploration wells like Antelope South or Wahoo 2 will see any capital deployed in the foreseeable future for true wildcat drilling. Appraisal wells at T-R-B could possibly be budgeted if extra gas is needed to help with the FEED and FID decisions.
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Spoken like a true reservoir engineer. Appraisals are certainly needed, but reserve additions are usually incremental (or not, in the case of A7). New discoveries, through wildcat drilling, are the upside, particularly for an existing LNG plant. Dry holes aren't fun but even dry holes give you pieces of the puzzle that tie real rock to virtual models built by geologists and geophysicists. Success rates usually improve with time and data. This really appears to be a string of pearls and the extensive acreage position makes it a happy hunting ground for Exxon and Total, who have deep pockets. There'll be plenty of wildcats drilled. I just don't feel like reading Oil Search's drilling reports for the next 20 years.