I don't even know why this 'is there oil' is being debated right now.
They are not near the reservoir, and they are not drilling at the moment, so I am sure directors and drilling clue have no greater idea than any of us.
A more pertinent question to me would be why there are so many apparently clueless investors who have dumped around 5.3% of the issue for 3.9c average over the last 30 days.