Ann: Gemba-1 Gas exploration well, page-37

Please advise where they should have been doing developmental drilling over the last 5 years?

Most of the Cooper 2P Oil is developed and is just running its course over time in natural field decline. There is not a heap of Oil that Senex has up its sleeve to develop, from memory there is only 8million barrles of 2P oil which wont last long if they just focussed on getting that oit of the ground at 2 or 3 million barrels a year.... Hence the focus on Exploration in the BPT 10 wells.

They only got the WSG approvals to drill a couple of years ago and there was always the need to do a decent pilot set of wells over a reasonable amout of time. Yes that seems to have dragged on for a year too long but that is a year, not 5 years as you allude to.

If they had of pumped the Western Flank exploration/development wells over the last 5 years then they would have been pumping heaps of valuable oil in a cyclical low of the oil price.... Oil prices have really only been 'good' for a few months over the last 3-4 years and those months were very recent...

Not sure what you are referring to as the failed Northern Cooper exploration program? Perhaps before my time in Senex? If you were referring to the Origin Deeps exploration then that was a free carry, looking for Unconventional Gas, the shallows (where the oil sits) was specifically excluded from the deal and Origin wouldn't have been interested in oil anyway.