Ann: Second oil discovery in WZ 12-10-1 exploration well, page-18

Yes it would help if the price of oil stopped falling. But bear in mind that the AU is falling against the USD and that offsets the lower price of oil considerably. That's why Woodside's latest production figures yesterday showed an improved profit, as will Senex's next Wednesday and Horizon's will also be positive. And LNG is faring a lot better than oil, down over the past 6 months but over the past 12 months up slightly. LNG is going to be the main game for Horizon when the ultra low cost of production Stanley gas field in PNG goes into production, with proximity to Asia and, with Japanese partner Osaka, sold into Japan. Despite the panic around energy stocks Horizon will do well in terms of production and profit.