Is TIS an oil company ?

My broker tells me that 95% of biotech companies fail. To compensate for that I am going to think of TIS as a junior oil explorer.Seismic studies have proved that TIS has good quality oil deposits which need to be accessed.Over the past few years the company has drilled several wells but due to complex geology and EMA (Extreme Magnetic Anomalies) and sloppy drilling techniques by the company the drills have failed to hit the target.The company is about to spud a new well and the target is expected to be hit circa end of February.Good luck old timers.