A window on this is the proposed deepwater drilling in the Great Australian Bight. BP pulled out but Chevron say they are confident they can drill without issues like blowouts. The state government (South Australia) is desperate for more gas to balance lulls in their 40% wind generation. They may 'co-invest' with drillers
http://www.adelaidenow.com.au/business/24-million-sa-government-gas-grant-to-benefit-producers-not-consumers/news-story/328d52e95530c258e045998f516a68b3
Any oil with the gas would be a bonus.

If Chevron go ahead they are taking a huge risk on both the unknown geology and political mood swings. I suspect there will be no more large conventional discoveries in Australia and what Ted Trainer says in his OLO peak oil article must eventually come to pass.

The proof of the pudding is in the eating, not the estimates of third parties/traders, worried solely about an unearned profit share!?

The fact that costs may well have risen by the claimed 66%, underlines how much the public have been ripped off by, you'd think, colluding price gouging multinational oil companies?
Alan B.