The basin is mature with an average discovery size of just 14 mmboe over the last decade, and yet-to-find resource is just a tiny fraction of discovered volumes. Despite most of the volumes discovered being commercial, cost overruns and delays have plagued development, resulting in significant full-cycle value destruction over the last decade. However, exploration in the last five years provides reason to be optimistic. Together, the 2015 Callater and Corona discoveries help generate positive value creation. This is an especially impressive feat following the 2014 crash in global oil prices.