I have been watching MOG as they are presumably drilling...

I have been watching MOG as they are presumably drilling Coelacanth-1 which spuds after Wasabi-1 in the Gippsland Basin by Apache Australia. These wells are described as a 'stacked pay' target similar to Fortescue in the Gippsland Basin. Wasabi should have spudded as it was expected 1 Feb and if 16 day wells then Coelacanth due 16 Feb, with target expected two weeks later. However, Apache are not making annoucements on Wasabi and I can get no info. MOG do not appear to be trumpeting this well, but the options MOGOA have climbed quickly to 6.5cents today. Target is 64 million barrels according to link below.
http://www.apachecorp.com/content/released/Apache_HIC_20070613_06_Australia.pdf
At say A$30 inground value per barrel and 16.7% to MOG this would be worth $320m to MOG. At a share price and market cap of 19c and $15m this would be a rediculous $4.20/share if fully valued on such a success - or is my maths up sh&t creek? Anyone know any more about this well than the thin info in the Moby quarterly report?
I hold MOG